Estimated Path To Next SummerFull analysis to follow with specific near-term levels. Prior Intermediate 5 did not move as expected so that likely puts us inside of Primary wave B heading down. Early estimates have us in
Primary B
Intermediate A
Minor 3
Minute 2
This means wave 3 of 3 is next with the inflation report tomorrow morning. Early signs per this would have November inflation hotter than expected. Fed also determines next rate hike on Wednesday. Looks like first near-term bottom could be prior to Christmas followed by highs after New Year while most of January points down. The January bottom should hold for quite some time as we should rally after the late January low until the early summer. The final downturn is still slated to begin in early to mid summer for northern hemisphere folks. Early estimates still place the final bottom around 2200-2400 by March 2025.
