Generally Up Until TuesdayWith Intermediate wave 1 likely in the books, I have projected the top for Intermediate wave 2. It won't be as high as originally thought. Minor wave A could end tomorrow or Friday and wave B could end Friday or Monday. The end looks like maybe Tuesday based on historical data.
Intermediate wave 1 ended about an hour late today but the market roared after the bottom per analysis:
The move up this afternoon almost ran the whole length of Minor wave A's expectation so a cool off today may continue to provide room for gains tomorrow. The inflation read still appears to be a catalyst for gains, but maybe 20-30 points early on Thursday is not a significant jump or confidence in the reported numbers which the pundits may add the context of fuel prices having gone up after the end of July. This realization should led the market down into Minor wave B temporarily and then some sort of short rally should occur Monday/Tuesday. The next drop should be another 150-300 pointer. The projected bottom for this first Primary wave 1 down right now is early October, however, based on the ending point of Intermediate wave 1, it is possible the bottom is October remains above 4050 AND the final market low toward the end of 2024 could remain above 3100 based on the analysis here:
