DJIA Intraday Plunge Update!

All calls for one more blast to the upside are starting to evaporate faster than ice dumped on hot pavement as we are approaching a downside breakout situation. For now in looking at a potential Minute degree diagonal pattern which can smooth out as more and more people become bearish on stocks. Retracing the entire April rally will happen if my bigger bearish scenario is in effect.  Pretty words and fundamental jargon will not stop a bear market once the peak has completed. This is my third big bear market I’m working, but still each bear market will be different than the other two bear markets. I will keep my updates a bit shorter than normal for a few days, but I dedicated my time and effort to map all 5 waves in Cycle degree, and at best we are only at a Cycle degree wave 3 peak. My preliminary Cycle degree wave three peak count, is about 16 this week. Some are still a bit fuzzy but they will clear up in time. If I’m still short a Cycle degree peak, then I will count out a fringe asset class like cotton!  Working on 16 Cycle degree wave three peaks are more than what you will find anywhere on the Internet, bar none.

Ask yourself, “How many other expert wave analysts have even found one wave 3 in Cycle degree”? Not a single wave 3 peak in SC or GSC degree has ever been confirmed since the 2000 peaks.  If you think you see a good SC or GSC peak anywhere on the internet today, then I will find a sequential problem pretty quickly. Any SC degree bear market needs a very specific wave count to get confirmed as there are always three sets of simple corrections we have to deal with.

Our 5 wave bull market must be sorted out to what degree it is in,  as this is critical to determine where we are in the bigger picture. There can be no room for alternate discussions as being out by just “one” higher degree or one lower degree will fail.

Short term, things can always go sideways or swing wildly in both directions as that is the sign that a trend change is taking place.

At this time I have several different bearish wave counts between my 5 core indices, but they could also clear up or smooth out some in the coming years.

This May I’ll be starting my third year with this blog and last month saw the highest pageviews I have ever had! Over 71,000 pages were viewed in one month, which puts this blog on track for a million pages viewed by the end of 2018. Needless to say I’m impressed by those numbers and every single visitor deserves an extra big, “Thank You” from me.

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