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Strategies & Market Trends : No Super Cycles Here

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From: sunabeach10/6/2022 11:42:16 AM
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Here is another way of looking at current situation. In TradeStation I've labeled Waves using Tom DeMark's Wave Analysis - which is somewhat similar to Elliott Waves. Using fib numbers counting highest/lowest X number of bars (Used his standard count of 13-8-21-13-34 for impulse down and currently 8-13-21 corrective up. That last wave HH of 21 is nowhere near complete. May continue to move sideways to up completing around 3900.xx or so. If this scenario plays out, another 5 wave impulse down would be in order. But that is getting way ahead of things.
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