In my best guess at where we currently lie in the Grand Supercycle Elliott Wave Theory, I have us in Wave 3 Grand Supercycle, Wave 5 Supercycle, and Wave 5 Cycle. This most likely puts the pullback for Wave 4 Grand Supercycle and A-B-C Correction for Supercycle/Cycle between around 2350-2085, which are .618 levels. However, based on earlier corrections the market tend toward 50% on the A-B-C Corrections, if you throw out the 1929 crash in which the financial protection devices available now were not around. So, if we do lose 50% or so of value from what I believe will be the top of Wave 5 of this Cycle at around 3378 or so, that puts the pullback as low as the 1650's. Keep in mind though, Wave 4 of the Grand Supercycle cannot exceed the Wave 3 top, so no lower than 1576 would be allowed. If this holds true, then we are still looking at a Wave 5 Grand Supercycle extension. This can typically extend to either 1.618 or 2.618 of Wave 1 to Wave 3, which puts the upper level of Wave 5 Grand Supercycle around SPX 10065-10100. SOOOOOO....I personally believe that the "permabears" of the world will never end up on the list of the richest in the world. They will eventually be right once in a while and the market will lose half its value--but a long term bet against the United States Stock Market in any form is a loser. Just one man's opinion. I will continue to try to make #moneybothways while the market twists and turns through options, but on any significant dips I will be sinking my biggest bundles of cash on hand into this perpetual money making machine. Comments welcome, just having a little fun looking at possibilities. Happy hunting and GLTA!!!
