I saw the drop that just happened prior to it occurring. I did not see it dropping so quickly and well beyond typical intermediate wave 4s. With this most recent retracement covering 92% of all of wave 3's gains, it is time for the final uptrend to begin. Intermediate wave 3 took over 50 days to gain what intermediate wave 4 nearly lost in 14. My final analysis has the index regaining around 300 points in 25 trading days. This seems nearly impossible, but so was the recent decline. I have identified 15 possible levels for the top to occur. These levels are based on Fibonacci extensions, correlations to the other intermediate waves, and historical movement of the index since the beginning. The levels of interest are below. The bolded numbers represent the most likely top in my estimate.
@cguthrie922
After today's reversal to the downside do you think we are still in intermediate wave 4 ?
StockSignaler
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@abhijit.majumdar, I questioned it at first, but it was the bottom of minute wave 2 (corrective wave) that was necessary. The first drop this morning only satisfied wave C of that internal wave. The final drop we just experienced around 11:52 completed wave E and minute wave 2. Expect the rise to be fast and heavy over the next few days.
johnroleson
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How can w4 overlap w1?
StockSignaler
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@johnroleson, it can and does. It just cannot go below wave 2
After today's reversal to the downside do you think we are still in intermediate wave 4 ?