Intermediate wave 3 has lasted 67 trading days, but the latest bull run appears ready for a break. I have conducted derivative analysis on all of the movement in this super cycle wave 3 to identify where the next bottom will occur. It appears set to occur by October 24, 2018. The following are potential turning points for this bottom.
Im wondering if today's low is it?
It came real close to .236 Fib
Do you think we go lower?
StockSignaler
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@ecramer, rarely is the decline a 23% retracement. The other figures and derivatives still have another day or two of declines on horizon. We should find the bottom by middle to end of next week.
navicapri
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@cguthrie922, is today low can be bottom
StockSignaler
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@navinifty, we are in wave 5 right now. the morning drop looks like wave 3 inside of the final wave 5. we should have at least 2-3 more hours before we see the bottom, but it will be today or tomorrow at the latest. VIX options have been great. It is almost time to go long again
navicapri
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@cguthrie922, thanks
navicapri
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@cguthrie922, Can this be the low
StockSignaler
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@navinifty, most likely. I wouldn't be surprised if the market gapped up in morning and the gap does not cover for a while. The complete corrective wave has achieved all movement. This does not mean wave 5 will not continue but it is likely over. The market has not achieved a drop of this magnitude in one day for years. The fundamental and not technical traders will most likely see this as the "buy the dip" position and begin buying again. I know the top of the market is coming, quick. Some of the big stocks may not recover from today and the last 5 days as they are already in their bearish declines
According to your chart data
2882.17 --------------- .236% Fib
2845.81 --------------- .382% Fib
2816.45 --------------- .500% Fib
Im wondering if today's low is it?
It came real close to .236 Fib
Do you think we go lower?