Time To See If Elliott Wave Can Predict This Recession
If we are beginning wave 3, I have us in Sub-Millenial wave 1, Grand Supercycle wave 5, Supercycle wave 2, Cycle wave A, Primary wave 5, Intermediate wave 3. I alphanumerically refer to this wave as 152A53
Intermediate wave 2 met all of its targeted movement and it bounced perfectly off of the median wave 1 retracement. With all goals met, the major drops are scheduled next. It all begins with the inflation numbers pre-market tomorrow and then followed by a week of speculation on what the Fed will do.
I have both of these events occurring in Intermediate wave 3 and each event is a catalyst for the pending 700 points, Elliott Wave Theory is hinting at dropping over the next month. If this movement does not occur, my wave count is wrong or EW is complete $#*&^#%$.
I have highlighted potential extension points based on historical movement for waves ending in 53 and A53.
For waves ending in 53:
75% of the time (the first quartile of data) wave 1's movement is surpassed by 147.99%
50% of the time (the median) wave 1's movement is surpassed by 166.31%
25% of the time (the third quartile) wave 1's movement is surpass by 209.7%
all of these levels are indicated by the yellow extension lines
For waves ending in A53:
Quartile 1 is 161.34% (near the "perfect ratio")
Median is 193.26%
Quartile 3 is 267.24%
all of these levels are indicated by the light blue extension lines.
My target bottom is somewhere around 3595, but we will see how intense the selling is. This could also look like capitulation selling, but I think that will actually occur in 2024. I will continue to re-evaluate as we work our way through this.
Intermediate wave 2 met all of its targeted movement and it bounced perfectly off of the median wave 1 retracement. With all goals met, the major drops are scheduled next. It all begins with the inflation numbers pre-market tomorrow and then followed by a week of speculation on what the Fed will do.
I have both of these events occurring in Intermediate wave 3 and each event is a catalyst for the pending 700 points, Elliott Wave Theory is hinting at dropping over the next month. If this movement does not occur, my wave count is wrong or EW is complete $#*&^#%$.
I have highlighted potential extension points based on historical movement for waves ending in 53 and A53.
For waves ending in 53:
75% of the time (the first quartile of data) wave 1's movement is surpassed by 147.99%
50% of the time (the median) wave 1's movement is surpassed by 166.31%
25% of the time (the third quartile) wave 1's movement is surpass by 209.7%
all of these levels are indicated by the yellow extension lines
For waves ending in A53:
Quartile 1 is 161.34% (near the "perfect ratio")
Median is 193.26%
Quartile 3 is 267.24%
all of these levels are indicated by the light blue extension lines.
My target bottom is somewhere around 3595, but we will see how intense the selling is. This could also look like capitulation selling, but I think that will actually occur in 2024. I will continue to re-evaluate as we work our way through this.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
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