Assumption: Discrediting the abnormal wick down in Wave 1 as an outlier that does not affect the overall wave count.
While the overall S&P 500 Index has already reached a 4.236 Extension this cycle (which typically marks the top and end of a Bull run), the S&P 500 Large Cap Value Index has not yet reached such heights.
Wave 3 (ending at the C-19 sell-off crash)...
Equal weight vs. Cap weight S&P 500
Quality vs. MOMO
Smallcaps vs. Tech
Value vs. Growth ( S&P 500 )
Topics of conversation all year long...expecting this to continue...