Minor Wave 5 of Intermediate Wave III of Major III of Primary III seems under way. Wave III is the strongest wave of a 5-wave impulse. I expect Minor Wave 5 to make a new ATH. Similarly, the eventual INT V, Major V, and Primary V will all make all time highs. This thing has a lot higher to go before the Primary V finishes and a bear market ensures. Disclaimer: All wave degrees are subject to change (for example, the primary waves may be cycle waves instead. Regardless, there are quite a few Wave Vs of various degrees still in the works.
Note
Minor 1 was 4425 points. Minor 5 = Minor 1 would give 12701+4425 = 17126 price target for Minor 5. The coming Wave IV then V series will make the market quite choppy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.