The major indices are making what looks like an expanding triangle (it is difficult to predict an expanding triangle before it completes). We can make some assumptions based on that:
1) The current decline is only a pullback and is considered a b wave in the larger E wave of the expanding triangle
2) Given B-C of triangle took appx. 6-7 years, we should expect the end of the E wave to be atleast 2026. ( THis is not a guarantee as I have seen instances where the E waves is slightly shorter in duration than the C wave).
3) The E wave can break the border of the A-C trendline, this may happen in the climate of inflation
4) A large-degree correction should follow the end of the E wave.
Overall, I expect the market continue to go up once this current correction ends sometime in early 2023, then we are off to the races again.
1) The current decline is only a pullback and is considered a b wave in the larger E wave of the expanding triangle
2) Given B-C of triangle took appx. 6-7 years, we should expect the end of the E wave to be atleast 2026. ( THis is not a guarantee as I have seen instances where the E waves is slightly shorter in duration than the C wave).
3) The E wave can break the border of the A-C trendline, this may happen in the climate of inflation
4) A large-degree correction should follow the end of the E wave.
Overall, I expect the market continue to go up once this current correction ends sometime in early 2023, then we are off to the races again.
Note
Second leg down has yet to come. I'm not as confident in this idea anymore because I think this leg down can be more than expected and we could break the lows of D.Note
Still waiting on second leg down to come. I don't except it to break lows of D. If we don't have a second leg down in the 2 months, more than likely we are done with correction and going back up to finish E.
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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.