I tried to label the rally from from April. According to this plot the NASDAQ reached the 0,618 correction level that more or less coincides with that the length of wave C of 4 also reached the 2,618 times longer level than wave A of 4.
If it breaches the invalidation line, than it may mean that the previous top were the end of wave 5 and a bear market comes.
If it breaches the invalidation line, than it may mean that the previous top were the end of wave 5 and a bear market comes.
Comment:
Just for fun I tried to label wave C of 5 on a 15 min. chart.
Comment:
Comment:
Regarding that the S&P gave a clear sign, that the previous rally that began in April was a finished wave consisting of 5 sub-waves, the Nasdaq has to be relabelled. We do not know yet that it was the top of the market or the first wave of a bigger 5th wave. I plotted two possible ways. The green marks the latter and that would mean that the top of the market is 8-10 months away from us ahead, the the former means that we passed the top and the bear market has begun.
