I gave up on the standard trend lines many years ago as I found them pretty useless most of the time. Any kid can draw wedge shaped lines like the majority do, but I refused to follow the sheep as I find two or three parallel lines far more useful.
Even now the last 5th wave is flowing away from the trend line, telling me that the top trend line will never get hit. It started to roll over a long time ago already. Two parallel lines also work for corrections many times, as corrections can fall dramatically outside the two lines. Like they did during the 2008-2009 crash. They forced the trend lines to show us a 5 wave decline, but in reality it was a 3 wave decline.
Since the 2009 bottom we've had a market that just refused to play the impulse game, but kept acting like it was in some much bigger bullish phase. The best way that I can explain this is that since the 2009 bottom we had a diagonal 5th wave bull market going on just a bit under 8 years.
Big bear market rallies don't last this long, and I'm sure we would see bigger and wilder waves the likes you have never seen before.
I would love to see the Cycle degree to hold at this time, but we can still explore the 3 options we would have if Cycle degree wave III is real. The entire Cycle degree 4th wave correction would have to finish by 2021 or so, as this will also be the time that the new solar cycle #25 will start. The last thing we want is to be bearish at the start of SC #25. Yes, it's all about climate change, as it is the solar cycles that control the climate on this planet, not what man does. As the solar cycle is on its last legs, the climate changes, with increased earthquakes and increased volcanic activity.
This is not rocket science folks and it is one of the big reasons why all the extreme snow we have had, and that the droughts in California just about vanished overnight!
I spent the last 20 years following the solar cycles and it is amazing how much bullshit is spread with misplaced science. From about 1960-1980 the markets went sideways and at that time they were all worried that another Iceage was coming.
Back then they used the exact same reasons for global cooling as they have used now for global warming. This is mathematically and scientifically impossible, yet the majority believe it's real science. Consensus science is not science because scientists would not have a job if they don't have a problem. We can go on and on about this, but I have never seen a bull market perform during a global cooling period.