3 mo cycle starting 23-Nov-20 (midpoint / top 07-Jan-21) 6.2 mo cycle starting 01-Dec-20 (midpoint / top 05-Mar-21) 17 mo cycle starting 23-Mar-20 (midpoint / top 03-Dec-20) 4.5 yr cycle starting 28-May-18 (midpoint / top 20-Aug-20) 9.1 yr cycle starting 18-Apr-16 (midpoint/ top 05-nov-20) 18 yr cycle starting 23-mar-09 (midpoint 25-Mar-18)
All combined indicate significant correction between 1st week of Dec-20 till Mar-21.
Eliot wave chartist are writing exact opposite of you stating 15000 target in next 3 months.
learner_pks
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@ckirtane, I am learning 1 step at a time and started to look at single indicator and not to mix with other indicators which often conflict. The cyclic indicator is an important one but doesnt contribute more than 25% to prices. It might rally 400-500 points in next 2 weeks before starting to fall to atleast 10K before end of March (i.e. potential upside is 3% and downside is 25%) . Timeline might get pushed by 1-2 months as cycles are not fixed.
For every Elliott wave prediction of 15000 in 3-6 months, there are an equal number (if not more) of Elliott wave analysts predicting start of correction wave. I dont have insights into this topic. Whoever says 15000 in short term may be right from their viewpoint (maybe they are using some specific parameters).
A side note - Given historical mkt behaviour, it is too ambitious to think that markets will put in another 15% in 3 months (mkts dont run too far away from fundamentals for long time). It is possible however that deep correction might not come soon.