Most EWT counts strongly suggest that we are in an intermediate correction, at least. Price action over the past 10 months seems to confirm that, with the overlapping A-B action through March, then the impulsive C action that has given no more than a couple of .383 pull-backs. Some of the clues outlined are based on rules, some on guidelines, and some on my own anecdotal studies of the market. A reversal in this area is expected, but could be 1000 more points of upside to the 2.0 around 16350.
Note
Worth noting, this idea was published in log, but logoff 2.0 is 15891. 15857.25 was Friday's high. Did get a reversal in the area, but it does not appear to be impulsive. Nothing to say we need the 2.0, but that was the max extent of the smaller Bs along the way since Jan 22, and most reversed between 1.382 and 1.618 of AC fib.Note
Y’all are sleeping on this post. Lol. Degree may be 1 off, but that is merely a matter of convention naming, bc this count is playing out within days/hours of forecast. Best, CuzNote
We are due for a 3800 point decline in the Nasdaq. This would be ALL of a Minor 2.
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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.