When I look at the peaks and lows of the market since 2000, I can't help but visualize a pattern forming here. In this chart, the peaks of 2000 and 2007 are marked with yellow vertical lines and the lows of 2002 and 2009 are marked with purple ones. These are cyclical lines which, based on the time frames from peak to peak and low to low, project equal time...
Viewing the correction from September 2013 as a 5-wave impulsive decline: Assuming the recent bottom was the low of impulsive wave 3, price is now rallying in corrective wave 4. Wave 4 appears to be an A-B-C structure, and we are at the end of wave B which has developed as a contracting triangle. Assuming so, and if my triangle wave labeling (abcde) is correct,...