Another frustrating chart in that I can't tell if it has finished a 4th wave correction in May and has now embarked on it's wave 5 or has this wave 4 correction got a few more ups and downs to go. In the spirit of EW alternation the 2nd wave correction in 2016 was a shallow one so perhaps a deeper wave 4 could be expected now. Doesn't always follow though and with the strength of US equities these last few years then a shallow correction is just as possible. Still, on a optimistic note I still reckon looking at these charts from a EW framework it would still suggest that this bull market has legs.
注释
Breaking out (?).注释
Major correction started with completion of 5th wave? Some pretty solid reversals yesterday in US stocks. I wish TradingView would offer proper logarithmic scaling for Fibonacci retracements and extensions but I can only work with what I have and this chart shows a possible wave 5 as equal to wave 1.
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