This morning the markets have resumed their bearish mood, which is far from finished or even getting close to being oversold at this time. That day will come when all those Apple stock investors have sold out, or when the majority think there is no “Hope”! It was the late January peak that was the real peak as I have to keep the expanded pattern alive. Missing or ignoring any potential expanded top anywhere will screw up any wave count. Any large degree expanded top has huge forecasting qualities built in, as I already know that by 2029-2041 all markets will exceed the September peaks by a wide margin. This will not happen until after Cycle degree wave 4 has completed with stock prices crushed down to the 700-800 price level.
When everyone is screaming for lower and lower SPX prices then I would be confident in calling for the SPX to hit 3400-4000. This will not happen until solar cycle #24 has ended and all the science blogs have declared the start of Solar Cycle #25! Those investors that see it coming and can wait for the next 3-4 years will have the power of solar cycle #25 working for them.
The exact same thing happened in 2008-2009 and that produced a 10-year bullish phase. What do you call the solar cycles? Fundamental or Technical indicators? Solar cycles will demolish any bearish wave counts at that time, and if the majority of wave analysts do not realize this, their bearish moods will get terminated and they will miss another super bull market.
The 2530 price level may give temporary support for the SPX, but you can never rely on prices to make long-term investment decisions. We are living in a “Hyped Up and Inflated World”, and no little correction is going to address those issues in a short time. It took 3 years from the 1929 peak to the 1932 bottom and that was a Supercycle degree crash so a 3-4 year bear market is not unrealistic at this time. This bear market should also be longer than the 2001 and 2008 declines, as they were all lower degree level bear markets.