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| The 5th wave (predicted in the prior chart yesterday) completed and the market promptly sold off. This could be the "kick off" of a long sustained bear market. Alternately, this 5 wave move to the upside could be wave A of an upward moving ABC Zigzag, in which we would now be in wave B to the downside. Wave C then would take us to one last high to complete the ZZ. I am favoring that interpretation. It is shown below. |
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| The market will have to trace out Waves (B) and (C) relatively quickly to make my predicted September 30th peak deadline. Of course it doesn't have to happen on that date. I was merely speculating. More probable is a mid to late October peak. Any early Shorters of the market can utilize this wave B as an opportunity to park money on the sidelines until Wave (C) unfolds and hits its peak. |
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