Wave five of an expanding diagonal often end before reaching the connecting line of waves one and three. The upward move should continue until the market is closer to this line. I have found 1.618^6 to be ideal level and is close enough to this important line. This chart projects wave five to 20,979. There was precedent for using 1.618^6 during wave ((1)); see (c) vs (a)
It is not that his ideas make no sense. Moon Trader has a valid point in that 100K's approach to EW is not conventional. His analysis often breaks the rules. I could be missing something and have been nice about reaching out to him as I like his overall technical mindset but his counts leave me a bit uncomfortable.
The next Mercury in Retrograde starts. This will retrograde will either usher in a low and the beginning of a very large move up or the high volume low of 152 is it and we begin the locomotive move up from current levels above 209. The monthly stochastic currently fits both scenarios but with the same outcome - the next leg up 1 of a larger 3. Leverage works both ways. Right now the shorts are still comfortable. The comfort level goes away with the next retrograde cycle.
there's nothing you didn't understand, its just this persons perspective(stupid in my opinion) and strong belief as reasoning behind such an extraordinary move. I wouldn't follow this person simply based on such an exaggerated chart and as you mentioned above, he thought the same thing back in January so that should be a clear indicator that his understanding hasn't changed since then.