Just another roller-coaster day in the stock market. The primary count is that today’s peak price was wave ii of (iii) of [iii] of 3 (down). This infers that the market is on the verge of a massive price loss in wave iii of (iii) of [iii] of 3 down. A ‘third of a third” at multiple degrees of trend.
Yet even so, we still have sub options to the primary count. The market is fighting losses every step of the way that ultimately can be viewed as bearish overall. The bull market mentality is still very strong and the only thing that will “break” that mentality is a bear market wipeout.
The top alternate count of significance is shown below. Today’s total equity Wilshire 5000 volume was the 4th highest on record.
