So I was puzzling the weekly chart and suddenly it hit me that waves 5 up often show a triangle, diamond or pattern…overlapping waves and anything but a nice and clean, non overlapping 5 wave up structure.
As an example, I will refer to the following time period: during OCT 15 – MAY 15, wave 5 up consisted of overlapping waves and an abcde structure.
And then I thought, what if the Price Pattern of OCT 15 – MAY 15 equals the current Price Pattern –> FEB 16 – OCT 16?
If history repeats once again, wave c up is close to finishing and wave d will take the S&P500 to 2100-2080-2050.
Last time, wave c up lasted 3 weeks and wave d in total 5 weeks (2 down, 1 up, 2 down).
Currenrly, wave c up lasts 3 weeks….Be prepared….