Elliot Wave Analysis:
After we completed 3 sets of 5 waves up between 2010 and 2022 we got 3 waves down, and a wave 4 or D up. Most traders believed we were going back to the 10 year Bull Market, and new ATHs, again. However I pointed out the tripple thrust elliot wave pattern, little known outside of EWT theorists... Let's call it a lower high, and suggested we could go down very fast and hard into a bear market cycle. That prediction happen and took the ES from 4638 to 3488 eventually.
What I am suggesting is that after we go down, what i have labeled ABC on the right side of the chart, we can expect an up move, which might be a corrective 4th wae, and lead to weeks or months of fierce selling.
I will keep you posted, we are only on wave A, or 1 down now.
After we completed 3 sets of 5 waves up between 2010 and 2022 we got 3 waves down, and a wave 4 or D up. Most traders believed we were going back to the 10 year Bull Market, and new ATHs, again. However I pointed out the tripple thrust elliot wave pattern, little known outside of EWT theorists... Let's call it a lower high, and suggested we could go down very fast and hard into a bear market cycle. That prediction happen and took the ES from 4638 to 3488 eventually.
What I am suggesting is that after we go down, what i have labeled ABC on the right side of the chart, we can expect an up move, which might be a corrective 4th wae, and lead to weeks or months of fierce selling.
I will keep you posted, we are only on wave A, or 1 down now.
Please check out Kauai Dave Pivot Traders on youtube. www.youtube.com/channel/UCNpY7S_s1cxw0cer4PyEEMQ