Elliot wave pattern developing in new COVID cases in US
The trader in me can't help but to notice the emotional component to the COVID response in the US. There is a large amount of altering panic and denial. This results in rapidly altering between tightening and loosening social distancing measures. With a several week timelag, this results in more and fewer new cases. Pumping like price action on a hot stock. Experts including Fauci are predicting that in the not so distant future we are going to see days with 100,000+ new cases of COVID in the US. Looking at COVID as an Elliot wave this would mean extension to about 2.168. This is not meant to be a prediction or time line. Just interesting that these numbers are lining up. Admittedly, yes, amount of testing is going to play a roll in this. Similar analysis with death rate shows a similar pattern. From here it seems like COVID is going 3 wave in the US.
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.