The wave breakdown of the current bullish move has been drawn in the chart.
As we all know this wave breakdown is of the 5th Wave of Diagonal which I can see to be most likely an Ending one instead of Leading.
In any case, once the upward trend has finished its course in upcoming weeks, we can very well see a medium to big bear market taking over starting from this Summer.
As we all know this wave breakdown is of the 5th Wave of Diagonal which I can see to be most likely an Ending one instead of Leading.
In any case, once the upward trend has finished its course in upcoming weeks, we can very well see a medium to big bear market taking over starting from this Summer.
Since B wave had retraced more than 78.6% of wave A (almost around 95%). It was to be expected that we could see a Flat (which ended at 23.6% of wave 3) instead of zigzag (whose target was 38,2% of wave 3) as shown by my wave 4 ending point projection in the first chart.
Anyhow, the last leg up came as expected afterwards and frankly speaking, I can see through charts more clearly now that the downward move is closer than anticipated. Unless this wave 5 extends itself, I do not see much hope for USA stock market.
NVIDIA also published its Q4, 2023 earnings, which started that stocks last upward push. That stock has almost completed its cycle as well along with many other stocks.
Wont be surprised to see trend reversal next week unless this wave 5 extends itself buying us some more time before we go down.