The Nasdaq looks the same as the other indices but its record high crossed with a three wave zigzag pattern. This can still be part of three patterns and a triangle is one of them. Yes, I can show you the obvious 5 waves down with the with wave just completed, but there is something wrong with that as wave 1-2 and wave 3-4 are both identical in form.
This does not happen in the real world as patterns
alternate from each other, and it depends on where we have been counting from. The pattern from the December 2015 peak is not a pure impulse by any means, and if it was then our present 4th wave must still make some sideways moves like a triangle. always
The markets are starting to go wild already as the US dollar dropped and gold reacted perfectly to it.
There is a good chance that a diagonal 5 waves can form and that at present we are in an "ABC1" count. We should find out by the end of Friday.
The cash contract has a huge open gap up top which I think the market is going to close before we drift into a bigger bear market. The big papa bear will eventually come, but it can also come as a three wave bear market, so it will be a challenge all the way.
One thing I am very confident with is that the markets no matter how deep they eventually go, do not switch or end up in a SC or GSC degree wave count. Any Cycle degree 5th wave must be completed first before any SC or any GSC degree wave count is allowed to pass moving forward. Think of the Cycle degree 5 wave sequence as a big gate to keep the SC and GSC degree zombies out.
am repeating this over and over, because the fear mongering will drown out any reasoning, when it will be time to think clearly and logically.