starting from 2009 , most likely we are in wave 4 correction
timwest
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Have you seen a wave-2, c-wave terminal pattern before?
bigrediska
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Here I only see two obvious waves- one and two. Therefore, focus only on the waves here are not enough. The key thing here is the MA 200 line.
timwest
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I like the way it is reacting to the 200-dma. (Perhaps hide the Elliott wave if it isn't part of the analysis?- just for clarity?)
timwest
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To add to the reply: If you think we are going into a wave 3 of wave 3, then I think that adds to your bearish point. However, the labeling is unusual since the first, larger-degree wave 2 is labeled in a way I have never seen before).