It's a new month, so Friday will be a wild day when the job report comes out.
My zigzag turned out to be slightly truncated, which I should have ignored. The trailing 5 waves came in and that should have been sufficient to turn very bullish.
If there is ever a time when an impulse kicks into high gear it should be now, and it should stay within my trend lines for the most part. I'm still counting it with the 1-2
,-1-2, 1-2 punch wave count, which always helps me to keep the third wave as the long wave.
I start out with a wave two as my base on all impulse wave counts and then adjust as soon as it gets trashed.
Any extension that is still to come could also happen in the 5th wave but there is no way of knowing if the 5th wave will be the strongest and also extend.
The DJIA has to soar above 18,042 if this entire bear market gets retraced. In other words, this so called bear market was over on February the 11th while the majority are still bearish and waiting for the big one. Investors are just too darn slow to pick up on this, but nimble traders would never want to miss this kind of a bullish run.