We can see that the January Peak at $27 is a single top all stuck out in the open. There is no expanded top here like we got on at least 5 other indices. This January peak is the real peak which I see as wave 3 in Cycle degree. There are always three sets of simple corrections we will have to choose from and we would need a single correction in Cycle degree with 3 stages in Primary degree. It all points to a big flat in Primary degree with this single zigzag being the intro to the “A” wave in Primary degree.
I don’t think this decline can play out by the end of the year, as it may take until February-March 2019. A full set of 5 waves has to develop, and a landing at a Primary Degree “A” bottom would be a buy signal.