rising wedge, plateau ........another rising wedge?
I'm not a market expert, just a beginner but I tried to compare this crisis with previous ones and the fall we had in march 2020 is more similar to 2008/2009 and 2019 ones rather than the 29'.
The situation is different: in 29', the global market collapsed for other much bigger systemic reason. Now stock market has fallen because of 3 months lockdown; the financial and banking sectors are relatively healthy and consumers are high.
I don't think it's a good compare with the big crisis.
So, analysing the chart, I see a rising wedge within 4 Elliots waves: 2 impulsive and 2 correctives, followed by a falling flag or plateau ( I see Elliot waves within the flag too but I didn't design them because they may result too small to distinguish).
I guess we should expect in September the usual seasonal stock market rise, maybe slower than during the latest 4 months.
Feel free to leave your opinion about,
Cheers,
V.
The situation is different: in 29', the global market collapsed for other much bigger systemic reason. Now stock market has fallen because of 3 months lockdown; the financial and banking sectors are relatively healthy and consumers are high.
I don't think it's a good compare with the big crisis.
So, analysing the chart, I see a rising wedge within 4 Elliots waves: 2 impulsive and 2 correctives, followed by a falling flag or plateau ( I see Elliot waves within the flag too but I didn't design them because they may result too small to distinguish).
I guess we should expect in September the usual seasonal stock market rise, maybe slower than during the latest 4 months.
Feel free to leave your opinion about,
Cheers,
V.