It never stops amazing me how EWs forecast human events so reliably.
Over the past several years, I've been saying that although I don't know what the news event will be, some news event or group of them will collapse the global economy as a tidal Wave 3 down takes hold.
As we sit at the completion of the lower degree W2 of that mammoth Wave 3 down, confirmed in virtually all markets, and yesterday we completed (or nearly completed) an even smaller degree W2 of momma W3 herself, it seems clarification has arrived.
CLICK TO ENLARGE
FDR, I'm a novice at EW theory, so I'd be grateful for a bit of clarification. Are you saying that the correction and rebound since 19th January 2010 are small waves 1 and 2 and that we have begun or soon will begin wave 3 of the wave 3 shown in orange above, which is part of an even bigger WAVE 3 that consists of the orange waves 1 to 5?
ReplyDeleteFDRAOA, any chance could you post some longer-term charts showing your wave counts - maybe one showing the count from the market top in 2000 and one that includes the 1930s and maybe even a multi-century one? That would really help me and probably many others to understand the "big picture". Please keep up the good work - lots of us are relying on the education that you provide.
ReplyDeleteWoops!
ReplyDeleteLooks like we are seeing a wave 5 right now, going to be very ugly for my shorts
ReplyDelete