Interlocking levels of magnification in sequence BLACK (longest term view) - RED (long term view) - ORANGE (short term view) - GREEN (shortest term view)
If the bull market were to continue it will likely take the form of black wave.
That means we are in leg 4 of the black wave that needs to ends before the last leg up begins.
This means that - from the bottom up:
The uptrends will be confirmed if we don't fail out of the GREEN wave where leg 3 is lower than 1 but still above the support line. (Remember also the green wave may be a 3 legged wave and we may not be able to see 4 and 5)
Green wave's completion to 5, will mark the completion of leg 4 of ORANGE wave.
When leg 4 completes and leg 5 begins for ORANGE - this will show excellent strength where ORANGE(short term traders), RED (long term traders) and BLACK (longest term investors) waves will share the sentiment of the bullish 5th leg up.
If the bull market were to continue it will likely take the form of black wave.
That means we are in leg 4 of the black wave that needs to ends before the last leg up begins.
This means that - from the bottom up:
The uptrends will be confirmed if we don't fail out of the GREEN wave where leg 3 is lower than 1 but still above the support line. (Remember also the green wave may be a 3 legged wave and we may not be able to see 4 and 5)
Green wave's completion to 5, will mark the completion of leg 4 of ORANGE wave.
When leg 4 completes and leg 5 begins for ORANGE - this will show excellent strength where ORANGE(short term traders), RED (long term traders) and BLACK (longest term investors) waves will share the sentiment of the bullish 5th leg up.
Comment:
What would have been the beginning of leg 5 for orange and red never materialized. 90% confident bear is confirmed. Teeny tiny chance it could recover. Would not bet on it. expecting 29.x k target on the low and and temporary recovery to 37-38 on the way down
