technical view, not macroeconomic or funadamental
despite the bounce from monthly bollinger band in 2350 area i see several reasons for termination of bulltrend started 2009
i can't assess it as an impulse, the wave has evident corrective character and to me the best fitting count would be x-wave abc in neely's style, internal structure and extensions support such scenario
only clear impulse i see in longterm chart are 1929 and 2000 tops
therefore i favour running flat complex w4 scenario, as alternation to sharp w2 in great depression, now y started
however, in superchannel from 30ies there is hard to call deeper correction, not mentioning breaking channel (what would be event of the century), btw. u might try to find 1987 crash there...
and, of course, in ew there are plenty of scenarios available, double top with overshooting high as b of y or x-wave not fully over yet and so on...
trade safely all
despite the bounce from monthly bollinger band in 2350 area i see several reasons for termination of bulltrend started 2009
i can't assess it as an impulse, the wave has evident corrective character and to me the best fitting count would be x-wave abc in neely's style, internal structure and extensions support such scenario
only clear impulse i see in longterm chart are 1929 and 2000 tops
therefore i favour running flat complex w4 scenario, as alternation to sharp w2 in great depression, now y started
however, in superchannel from 30ies there is hard to call deeper correction, not mentioning breaking channel (what would be event of the century), btw. u might try to find 1987 crash there...
and, of course, in ew there are plenty of scenarios available, double top with overshooting high as b of y or x-wave not fully over yet and so on...
trade safely all