ES: Where I see Mrs. Market is heading
Updated
End of this year or early next year might be in for some kind of a shocker. If the current ending diagonal is true, then ES should not see 6300 at this point. Either the Fed or all this tariff talk may tank the market in the coming weeks. If we say the rules of alternation in play, then the wave 4 should be steep and quick. Wave 2 took 10 months and was choppy. Wave 4 should take about half that time and should get into wave 1 territory at 4788. That would put the market in the bear market territory and most pundits should call for the lost decade. But I see one more high to end the 100 year cycle sometime around 2026.
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Price hit the box and now coming down. Even if it clubs back up one more time, the jig is up for now. The next few months may be hard but wave 5 will come after that most likely when everyone becomes a roaring bear!
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