Blog Archive

Thursday, May 3, 2018

3 May 2018

A lack of follow through has caused me to reevaluate all of this choppy action over the past month.
Take a look and let me know what you think.
Do you still feel the big triangle for a wave iv correction is still viable?
The past two days came down as expected, but the afternoon recovery took out the wave 1 low so unless the market is doing a 1,2/ 1,2/ 1,2 I can't very well make this an impulse wave.

Look for five waves up to about 2700 to 2750 for wave c of (ii).  Then if this is correct and Super Cycle V ended at 2876.the market should begin (iii) of [iii] which in theory will be a devastating decline.   Otherwise the next five wave may only be the beginning of Super Cycle V which could take the market to 3600 or even higher!

How will we know?  I would feel pretty confident in the bearish scenario if the market breaks below 2530 with a strong five waves down after completing Wave c

Keep in that I am

No comments:

Post a Comment

Today's Feature