ARE WE FACING A POSSIBLE MARKET CRASH?
Wave 1 had 14198.10 PTS
Wave 2 was a correction of about 50%, pushing the price to 6469.95 PTS (MARKET CRASH OF 2008)
Since the end of wave 2 and the start of wave 3 at 6469.95, the market had an increase of 357.01% to 29568.57 (End of wave 3), that's and increase of 23098.62 PTS and that's about 161.8% of the 14198.10 PTS HIGH (14198.10 x 1.618 = 22972.52 PTS)
Wave 3 had 23098.62 PTS and it's about 1.618 of wave 1, ending in 29568.57 PTS
Wave 4 was a correction of about 50%, pushing the price to 18213.65 (MARKET CRASH OF 2020 DUE TO CORONAVIRUS)
Since the end of wave 4 and the start of wave 5 at 18213.65, the market had an increase of 100.76% to 36565.73 (possibly end of wave 5), that's and increase of 18352.08 PTS and that's about 127.2% of the 14198.10 PTS HIGH (End of wave 1)(14198.10 x 1.272 = 18059.85) and about 61.8% of the 29568.57 PTS HIGH (End of wave 3)(29568.57 x 0.618 = 18273.02)
Wave 5 had 18352.08 PTS and it's about 1.272 of wave 1 and 0.618 of waves 1-3, ending in 36565.73 PTS
The MACD indicator shows convergence (overbought) and is higher than ever before on a macroeconomic time interval (1 month)
If the Elliot market cycle is completed on this macroeconomic time interval, i expect a correction where the price will have a decline of approximately 23% to 50%, which would push the price towards 28000 - 18000 PTS
Wave 2 was a correction of about 50%, pushing the price to 6469.95 PTS (MARKET CRASH OF 2008)
Since the end of wave 2 and the start of wave 3 at 6469.95, the market had an increase of 357.01% to 29568.57 (End of wave 3), that's and increase of 23098.62 PTS and that's about 161.8% of the 14198.10 PTS HIGH (14198.10 x 1.618 = 22972.52 PTS)
Wave 3 had 23098.62 PTS and it's about 1.618 of wave 1, ending in 29568.57 PTS
Wave 4 was a correction of about 50%, pushing the price to 18213.65 (MARKET CRASH OF 2020 DUE TO CORONAVIRUS)
Since the end of wave 4 and the start of wave 5 at 18213.65, the market had an increase of 100.76% to 36565.73 (possibly end of wave 5), that's and increase of 18352.08 PTS and that's about 127.2% of the 14198.10 PTS HIGH (End of wave 1)(14198.10 x 1.272 = 18059.85) and about 61.8% of the 29568.57 PTS HIGH (End of wave 3)(29568.57 x 0.618 = 18273.02)
Wave 5 had 18352.08 PTS and it's about 1.272 of wave 1 and 0.618 of waves 1-3, ending in 36565.73 PTS
The MACD indicator shows convergence (overbought) and is higher than ever before on a macroeconomic time interval (1 month)
If the Elliot market cycle is completed on this macroeconomic time interval, i expect a correction where the price will have a decline of approximately 23% to 50%, which would push the price towards 28000 - 18000 PTS