This is a long-term EW count. Based on this 2020 was a major top indicating Cycle wave III completion. This also checks out with Fib measurements. Based on Cycle Wave II being a zigzag back in 1936-1942 we should expect a flat correction or expanded flat correction to take place now for Cycle Wave IV.
The crash wave in Feb-March of 2020 may have been only wave a of A, and we are currently in wave b of A. I am expecting a pullback here, but it is difficult to say how deep we go. We could be forming c of A or still in b of A with a complex wave b of A forming.
DO not assume just because I am calling this a Cycle top back in 2020 that we can't go higher. We can definitely go higher in trending markets even when we have corrections because of things like running corrections or expanded flats. I am however expecting turbulent market conditions and volatility that will go both ways, up and down.
The crash wave in Feb-March of 2020 may have been only wave a of A, and we are currently in wave b of A. I am expecting a pullback here, but it is difficult to say how deep we go. We could be forming c of A or still in b of A with a complex wave b of A forming.
DO not assume just because I am calling this a Cycle top back in 2020 that we can't go higher. We can definitely go higher in trending markets even when we have corrections because of things like running corrections or expanded flats. I am however expecting turbulent market conditions and volatility that will go both ways, up and down.
Comment:
There is still debate if this was cycle III or Super cycle III. Either way look for a big crash.
