Its been a while since I posted the Midcaps and one main reason is that the April peak did not soar to new record highs.
I can’t count that peak as a “Truncated Peak” because it’s just too far gone for my liking besides that, line mode confirms the bar chart as well.
The crash down to the December 2018 bottom still is a great looking zigzag which matches many other indices.
From the 2018 bottom to the April/May top would be a bear market rally but the markets have to confirm it. There are two major price support levels, one at 1800 and another at the 1565 price level.
Being bullish when a potential death cross is just around the corner is not my way of looking at things.
Solar cycle 24 is also ending by 2020 which work more like magnets drawing or repealing prices. The big recession ended in early 2009 when solar cycle 23 stopped and solar cycle 24 started.
It could take 4 more months if one month takes the time of 1 Minor degree wave structure.