Short

Long Term Bear Market ?

Updated

If a five wave impulse is done, we should expect 'at least' a three wave correction (at the same degree) to unfold.

The beginning of wave (1) starts from March 2009 at $32.28 and if this year's top ($258.51 in January) is the end of wave (5), a multi year correction (or bear market for 3M) will be inevitable.

Note:

The length wave (5) equals approx. total distance from the start of wave (1) to the end of wave (3)
RSI made new lower highs when price moved into new higher highs

Note

Daily Chart

Wave 5 of (5) is also extended and it equals to approx. 2 times the length of wave 1 through wave 3
Wave 5 of (5) has ended near the upper trend channel line(connecting the end points of wave 2,3,&4 to draw the channel)

Note

4 Hours bearish assumption

Note

there was a typo mistake on my note
instead of
"The length wave (5) equals approx. total distance from the start of wave (1) to the end of wave (3)"
it should be
"The length wave (5) equals approx. 2 times the total distance from the start of wave (1) to the end of wave (3)"

Note

key resistance at the $215.44 which is the end of wave i

Note

short-term bullish potential

OR

Note

wsbza

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'

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