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CORRECTIVE WAVES

Markets move against the trend even more in an apparent struggle. Resistance from a larger trend, apparently, does not allow the correction to develop the full structure of the motive. This struggle between two oppositely going degrees usually makes the corrective waves less clearly distinguishable than the moving waves, which always flow relatively easily in the direction of one larger trend. As another result of this conflict between trends, corrective waves are slightly more diverse than moving waves. In addition, they sometimes increase or decrease in complexity when they unfold, so that what is technically subwaves of the same degree can manifest itself to varying degrees in complexity or duration. For all these reasons, it can sometimes be difficult to fit corrective waves into recognizable patterns until they are complete and left behind. Because corrective wave endings are less predictable than moving wave endings, an Elliott analyst should exercise more caution in his analysis when the market is in a meandering corrective mood than when prices are in a constantly moving trend.
The single most important rule that can be gleaned from studying various corrective patterns is that there are never five corrections. Only motor waves are fives. For this reason, the initial five-wave

moving against a larger trend is never the end of a correction, only part of it. The numbers in lesson 9 of this course should illustrate this point.
Corrective processes come in two styles. Sharp correction angles are cool against a larger trend. Corrections in the lateral direction, always causing a clean rollback of the previous wave, as a rule, contain a movement that returns to its initial level or exceeds it, creating a general lateral view. The discussion of the alternation guide in lesson 10 will explain why these two styles should be noted.
Specific corrective patterns fall into four main categories:
Zigzags (5-3-5; includes three types: single, double and triple);
Apartments (3-3-5; includes three types: ordinary, extended and working);
Triangles (3-3-3-3-3; four types: three tapering varieties (ascending, descending and symmetrical) and one of the expanding variety (inverse symmetrical);
Double triples and triple triples (combined structures).
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