If so, we could see a 3 of 3 of 1 start Monday. After all the massive short covering the past 2 weeks, it would be a free fall with no buyers to support (no bid, like Aug 24).
If the market marches higher from here, then the whole move down to the Feb lows would be considered a wave 4 and we would be in a 5 up now.
So say the Elliot wavers! Choose wisely!
All Time High. Possible Wave 5 up began Feb 11th. If this is the case, then we will go to new highs. Not a popular count with many EWT , but there are a few talking about it.
You may be right, but, remember the rally off the lows in 2011?? Pattern here is almost identical. TPTB aren't going to let the last 6 years of their "hard work" go bust that easy.
Almost every time they trot out a major bear call the markets bottom and take off to the upside. Good bottom indicator i've learned to watch over the years and am now enjoying the ride!