The major indices are making what looks like an expanding triangle (it is difficult to predict an expanding triangle before it completes). We can make some assumptions based on that: 1) The current decline is only a pullback and is considered a b wave in the larger E wave of the expanding triangle 2) Given B-C of triangle took appx. 6-7 years, we should expect...
Looks like ELliott wave flat from 2007. C wave seems to be forming since 2017-18. Expect more volatility going foward!
Things are going to get nasty after this relief rally is done.
For my own reference. Who knows what it means. Hopefully something good
Looks like an ABC correction is finishing before another move downwards
www.youtube.com "The Inflation Genie Is Out of the Bottle", I'm still predicting a recession soon, but the the long-term trend for inflation and interest rates seems to have shifted or will shift soon.
Looking like an expanded flat to complete B, then a strong C wave down.
Look for one more bounce then public sentiment will switch to return to "Normal", and likely a double top before we crash.
Oil is at resistance, look for a move down over the next 1-2 years followed by a massive rally above ATH. This shows oil has been in a 5 wave move ever since 1970s. 1970s was the beginning of the petrodollar. The 5 wave move is a diagonal and is most likely ending diagonal or leading diagonal. Either way look for a sharp correction after every thing is done.
Market is most likely making an expanding triangle, won't complete until independence day!
At first, this looks like an expanding diagonal, which it is. But the internals are that of double zigzag.
Caution: This is not 100% guaranteed, but this looks like a textbook bearish cypher so far!
Back in 1/21 I said oil had bottomed and was in an uptrend. Now we completed 5 waves and are up against resistance. We are in for a top, and we will go down in 3 waves. The last 2 times oil topped the market also topped and crashed. So, we are due for a market crash soon, along with a correction in oil. Note: The exact top might not be here, but we are at...
I'm expecting a major top around summer time. This will make Cycle wave 3 that began in the 1930s, once this forms there should be a 3 wave move that will be like a flat very similar to 2000-2009 and 2018-2020 corrections. This will last longer than a decade.