Elliott wave analysis says top of market was hit Nov 27, 2019. Rising wedge to end 5th wave of 5th wave of 5th wave now. Have fun:)
Comment:
Here is a little update on the current bull trap in progress...
The ending wedge impulse wave has an internal structure of 3-3-3-3-3 and waves 2 and 4 need to partially overlap.
I originally counted the wave 5 as an ABC wave ending on 11/27/2019. After today, it seems as though the final wave was a WXY pattern that ended today (12/12/2019). Take a look at the attached chart to see how I counted wedge waves.
This is my prediction...Trump gets impeached and the market falls abruptly (Wave 1 down, maybe 12%). The market recovers (Wave 2) over the remainder of his presidential term. When he loses the next election, wave 3 will start down and the market will go into the worst recession ever until the next election. When Trump comes back to win the 2024 election, the market will be starting Wave B and everybody will think Trump fixed everything and they will think he is the man, but really, the writing is in the charts. Just thought I'd put that out there. LOL
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The ending wedge impulse wave has an internal structure of 3-3-3-3-3 and waves 2 and 4 need to partially overlap.
I originally counted the wave 5 as an ABC wave ending on 11/27/2019. After today, it seems as though the final wave was a WXY pattern that ended today (12/12/2019). Take a look at the attached chart to see how I counted wedge waves.
This is my prediction...Trump gets impeached and the market falls abruptly (Wave 1 down, maybe 12%). The market recovers (Wave 2) over the remainder of his presidential term. When he loses the next election, wave 3 will start down and the market will go into the worst recession ever until the next election. When Trump comes back to win the 2024 election, the market will be starting Wave B and everybody will think Trump fixed everything and they will think he is the man, but really, the writing is in the charts. Just thought I'd put that out there. LOL