SP500 E-Mini Weekly Chart Review

I moved my wave 3 extension back down so now it’s the 5th wave I’m extending.  Since the 2007 peak, the markets are in the process of finishing wave 3 positions each declining by one degree. 2007 was a Primary degree, 2015 is an Intermediate degree, 2018 being a wave 3 peak in Minor degree.

As I run out of degrees then Cycle degree wave 3 should be next to complete. The peaks will become one degree larger degree wise. SC degree wave 3 will peak in our future peak and not in our present, yet the majority of wave analysts are still trying to force GSC degree wave 3 onto the 2000 peak!  Sorry folks, markets do not have multigenerational 5th wave extensions as they are technical the weakest.

This markets can jerk around frustrating us to no end, but another correction is due that can send investors running to the hills once again.

 

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