My prediction from last December has been confirmed and the market has reached a new all time high.
At that time (in December), I was expecting a big flat correction in primary degree, therefore I was expecting the rise to new all time highs to represent the flat's wave B (the second leg of the correction).
I still maintain that prediction, and, as shown in the...
This expanding leading diagonal is the only bearish motive count still possible, as an alternate to the various bullish corrective possibilities:
- Triple zigzag.
I don't favor the possibility of the market being already in a bullish motive mode, because it seems to me the overall correction needs more time to meet degree criteria.
If so, it would be one more indication that my plan could have some accuracy... at least, that the market is now correcting, for then rise, probably to at least 90% of the decline from the all time high, enabling the flat corrective pattern I'm projecting since mid December.
... then what?
The decline from the all time high is a 3 wave structure, therefore I see 3 possible wave counts:
1 - My main count. We are going to correct at least 105% of the decline, and we'll do it with a 3 wave structure, so that then a crash of circa 48% unfolds to complete the expanded flat pattern and take the 2016 low. Then, we'll rise for circa 21...