If we are in Cycle B, and if it began on October 13, then we are likely in Intermediate wave 2 right now. Intermediate wave 1 would have lasted 13 days and gained 420.21. Right now I have the market in Cycle wave B, Primary A, Intermediate 2, Minor C, Minute 3.
A down day on Monday would likely confirm this position. Also, if we are in wave 3 there would likely be a gap down at the open.
I have projected the end of Intermediate 2 based on the Intermediate wave 1 data in combination with historical relationships. I have also projected the end of Intermediate 2 Minor C based on Minor waves A and B. Levels forecasting the bottom of intermediate 2 are on the right while the left levels are forecasts for Minor wave C
Right now the bottom may occur either late on Tuesday or early Wednesday (the election is the likely catalyst and bottom). The bottom will likely occur above 3625 but below 3700. I will re-analyze if we do not drop all the way or there is any other deviation outside of reason.
A down day on Monday would likely confirm this position. Also, if we are in wave 3 there would likely be a gap down at the open.
I have projected the end of Intermediate 2 based on the Intermediate wave 1 data in combination with historical relationships. I have also projected the end of Intermediate 2 Minor C based on Minor waves A and B. Levels forecasting the bottom of intermediate 2 are on the right while the left levels are forecasts for Minor wave C
Right now the bottom may occur either late on Tuesday or early Wednesday (the election is the likely catalyst and bottom). The bottom will likely occur above 3625 but below 3700. I will re-analyze if we do not drop all the way or there is any other deviation outside of reason.
Comment:
Or the inverse is true. With these two days up, we may be down the rest of the week to finish wave C. This also means the elections do not have clear results for the rest of the week leading to major unknowns. On top of the elections will be the inflation report on Thursday. How bad is bad for this report? My guess is anything over 8% YoY and/or a monthly increase. Even a change of power in DC doesn't change inflation anytime soon.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
