Russell 2000 Intraday Decline Review:

The Midcaps and the Russell 2000 seem to be the leaders in the race to a bottom. So far I can squeeze the decline into an impulse decline, but the decline in the last day or so has a wild choppy pattern to it.  We could still see a move to the upside as a potential wave 2.   Any further move to another new bearish low will confirm that the present counter rally has been just a mini bear market rally. 

One of the most successful hedge-fund pros says we’re ‘nowhere near an overheated’ stock market – MarketWatch

The extreme bullish mood in the stock market is not confirmed by the Russell 2000. The DJIA and SP500 record highs are masking the decline, by keeping everyone focused on how much higher this market is going. For now I can put up the Cycle degree wave 3 top, and only time during the next few years will confirm it.  

Since 2000 we have or will have 3 sets of 3-4-5 waves completed and each one is separated by a move one degree higher. In the next one hundred years or more, at least 3 more sets of 3-4-5 waves will get filled. Our present Cycle degree wave 3, then a Supercycle degree wave 3 (2029), and one more at a Grand Supercycle degree wave 3, which could be closer to 2129. 

The biggest wave 3 of any importance is a Submillennium degree wave 3 is out further still which may happen closer to 2229.

Of course I will be pushing daisies by then, so another crop of younger wave analysis would have to work on it to confirm it.  

Hits: 0

Share this...
Email this to someone
Print this page