Can wave counts, and their implications, differ from one time frame to the next for the same market? If so, what does it mean?

ANSWER:

In general, a chart’s wave count should be based on behavior present on that time frame. For example, daily wave structure should be based on daily price action. If a daily chart is difficult to decipher, a weekly chart might be useful in clearing up confusion. Of course, if your daily count implies something diametrically opposed to the weekly time frame, the count on at least one of those time frames is likely to be wrong (unfortunately, you may not know which for a while). 

When counts on different time frames fail to “sync,” it indicates that market is not near an important pattern conclusion, but is instead near the middle of a formation (a time when price action tends to be muted or, overall, goes nowhere). As structure clears, and just one wave count scenario emerges, that is when important tops and bottoms occur.

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