The daily shows the overall wave count. We have had 3 waves up from October 2022 wave (1) low to the July 2023 wave (2) peak. We have had 3 clear waves down since that July peak and 3 waves is “corrective” unless it unfolds into a larger structure and the 3 waves are just a series of “ones” and “twos”. That is the primary count is that this is a series of “ones” and “twos”. We are clearly reaching an inflection point not only short term, but intermediate term.
Proposed black wave “ii” up since the “i” low should not go above pink wave (ii) nor even come close to be honest. The wave count must “look” correct. The open gap down has now been filled and sometimes that is all the market wants to achieve. No nasty open gaps has been the rule of thumb. (Someday that will change).
No panic yet. The market will panic when it panics and not a moment too soon nor too late. We are trying to predict that but alas, the market frustrates the maximum amount of people always at any one given time. And though there is “reason” for the market to be bearish and crash, (wars, rumors of wars and outright popping of the Ponzi scheme) it will still occur on its own time schedule.
All I know is that Jesus IS coming back at some point in human history. Rather sooner than later. It’s coming up on 2000 years since his crucifixion and we don’t know that exact date (although I propose it was 28 April 28 AD), one has to ponder those 2000 years is a nice round number.
