This is a third alternate for a Cycle degree bear market where the “A B” wave in Intermediate degree rides very high near the top, followed by 5 waves down in Minor degree, not Intermediate degree. The intermediate degree 5 waves down must only happen after the “B” wave top in Primary degree. In the end, a 3-3-5 pattern should emerge. This is a bit more complex than the other two corrections that I have posted, but I assure you other even more complex patterns might show themselves as well. Elliott Wave is what you perceive the idealized pattern should be, not what you see in the markets, specifically the DJIA. The EWP originates from the DOW so the best way to understand the EWP, tracking the DJIA is critical.
I visualize the idealized EWP as being one big impulse wave where wave 3 in Submillennium degree starts about 1500 CE (Common Era) Otherwise know as the Little Ice Age. The low social mo0d at that time coincided with the witch burnings and the plagues that swept Europe. There are market records going back that far once British markets are spliced it. I have a big commodity chart that goes back to 1100 CE so the wave 2 base in Submillennium degree is in 1500 CE. From this base all wave two bases must be found first.
About 1843 the wave 2 of GSC degree completed and from that point on, any wave two bases must be in declining order, where the 1932 bottom is my wave 2 bottom in Supercycle degree. When counting from a wave 2 base, we are always making sure that wave 3 is going to be the longest. From the 1932 base, we have modern day records that really show how the wave 3 took off. The next lower degree wave two would be in Cycle degree with the 1942 bottom.
There seems to be a real theme of wave 2 bottoms coinciding with years ending in 2. The next wave 1-2 must be in Primary degree, followed by 3 more sets of 1-2 waves at sequentially lower degree levels. From the last wave 2 in Minute degree, we need wave 3-4-5 to finish wave 3 in Minor degree at the 1987 peak.
From 1987 all future waves must end with wave 3 peaks, and they must all end with a wave three top. From 1987 and into the future all wave three peaks must be in ascending order, where the count would be 3-4-5 in Intermediate degree than wave 3-4-5 in Primary degree, and in 2018 we should look for wave 3-4-5 in Cycle degree. I have more than enough idealized charts up that show 5 waves up in a Primary degree which we will need once Cycle degree wave 4 has hit rock bottom!
Markets do not make patterns that are simple for us to follow, if they did every wave counter would be a billionaire. The market follows the idealized pattern and it is our perception of this idealized pattern that needs a critical look. I’m dedicated to locating and tracking all 5 waves in Cycle degree first, as without all 5 waves in Cycle degree having secure tops, there cannot be any SC or GSC degree wave counts anywhere! At least not on this planet!
Think of it in visual form, where Cycle degree wave 3 is Mount Everest, SC degree wave three being the Moon and GSC degree being Mars! 😯
I count from a wave 2 base first, before I look for all wave 3s to peak. After 1987 and far into the future all peaks will end with ascending higher wave 3 degree levels.
The sad fact is that our modern day EWP is a biased description of GSC degree and many are growing up in this belief of a GSC degree super crash. Needless to say we will end up with an extreme forecast that will make no sense.
I can only forecast anything from a Cycle degree perspective and any SC or GSC degree commentary I make, is about the future not the present.