Elliot wave is about to form wave 3, which is certainly the biggest wave of a cycle. Also, the RSI is on an all-time-low! We just recently touched the lowest of the bollinger bands! MACD is in a bearish sentiment but the lines are about to cross to shift bullish again! The histogram looks like it completed a cycle, too.
Is this the time to be very, very bullish for the next 12 months? We might go further down but there is not much room to the downside before we explode to the upside!
stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory
Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.