Stephen - Here's The EWT Count for Compx..
I'm using the Nasdaq composite since this is the only major index in a confirmed bear market..
The end of the final 5th wave up in the Bull market occured on 3/10 at 5133.. From there we went down 5 Impulse Waves (indicating a bear market), which brought the index to 3043 on 5/24, the details as follows:
BIG WAVE 1 DOWN -
Top 5133 (3/10), W1-1 down to 4455 (3/16), W1-2 up to 5079 (3/24), W1-3 down to 3227 (4/17), W1-4 up to 3900 (5/1), W1-5 down to 3043 (5/24)..
BIG WAVE 2 UP -
Then we entered the Big Wave 2 correction up to 4289 on 7/17.. This was an abc wave that was clearly not impulsive, indicating a continuation of the bear market, from where we are expecting another 5 wave decline in the Big Wave 3 down..
BIG WAVE 3 DOWN -
Top 4289 (7/17), W2-1 down to 3615 (7/28), W2-2 up to ? (in progress, minor abc wave - ended b today)..
After the Big Wave 3 declines in a 5 wave sequence, we will bounce in a Wave 4 (similar to Wave 2 above), then a final thrust lower in a Wave 5 decline..
Once 5 Big Waves are completed, we correct in the opposite direction in a Big 3 Wave sequence..
Weekly Composite Chart -
siliconinvestor.com
Hope this all helps (All Figures are Intraday)..
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