Stock Market correction
Elliot waves can be useful but they are subjective and not everyone agrees on the rules.
Wave 5 in mine here is longer than wave 3. Some people don't like that, but to others this is acceptable.
To me, we are starting a correction which will coincide with the uncertainty running up to the general election in the US.
I think a full 'W' is unlikely and the stock market is in a long term uptrend. I cannot immediately see why that would change, since the stock market represents companies and companies are what humans use to incorporate a body which proposes to solve problems and there is no lack of problems to solve. The index is skewed to represent the best performers in the stock market. I'm not seeing a doomsday crash here. In fact, we haven't held below the uptrend line of this rally as yet even. What does everyone else think?
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