I see a lot of crash calls, bear market is here, the bull is over, and maybe all saying this are correct. I even find myself leaning towards the bear camp. Keeping an open mind to all possabilities the market could have been in a correction all year.Corrections can be sideways. Many only believe corrections have to be down in nature. This is not the case since overbought conditions can be corrected by going sideways as could be the case with year 2015. Only time and price will show me if this is so. With this EW count, P3 ended at September 2014 highs where P4 started with the October 2014 correction in an A wave, the rally up to may highs was a B wave, and the may highs to Sept 29 lows was the final C wave down. This would be a running flat 3 -3-5 just like P2 was a running flat at 525 days. Notes on chart.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.