Mini SP500 St Patrick’s Day Review


I have changed my degree levels where Minute degree will be the largest the level right now. The DJIA has also made the move up in the last couple of days, but had a “B” wave bottom much deeper.  What matters now is that the markets don’t charge up to a new record high again, but starts to make another leg down. This leg should retrace all March lows by a wide margin. 

Yes, I talk about price many times, but from my perspective, the price is never the main factor in determining a wave count. The majority uses price action, exclusively and even EWI has said that, “the only thing that can confirm a wave count is price”. I believe it is the patterns that dominates, and if we don’t get the pattern right then all the price forecasts in the world will not do us any good.

In the short term, I would like to see the SP500 retrace its tiny rally as soon as possible, which will give us the extra bearish push,  to start confirming that a bigger bear market is coming.

In a recent posting by Steven Jon Kaplan  , he talks about the impending SP500 bear market with some price targets. The description he uses fits into my Cycle degree bear market with amazing accuracy, and I would not change a thing except for a bit of time and price adjustments. 

If the SP500 eventually crashed to 800 then that would fall far short of the 2009 bottom. I have mentioned that this could happen many times before, even in Cycle degree.  For a non wave counting contrarian Mr. Kaplan has already described the next bear market, before anyone even knows what’s going on. 

If you think this is luck, then think again, as I have witnessed him forecasting like this many times before. Mr Kaplan had the 2009 bottom figured out while wave analysts were still wasting their time making numbers and letters.  My bet is that the next major bottom the wave experts will be wrong again, as they seemed to love pushing those high degree wave counts at us.

Any, time projections I used,  can be adjusted for the late 2020 time period, and price action can be, SP500 799,  instead of 800!  It is irrelevant if the SP500 stops at 800 or 599, as a lower price does not trash a wave count.  By the time that happens there will be so many contrarian indicators flashing, “Buy”, signals that you will go blind from all the bright lights. 😎

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