| Not true....according to an elliot wave perspective, and there are others who share my view, my count has been that we are in a 3rd wave of 3rd wave decline (3rd waves often being the strongest, though occasionally, 5th waves extend instead) which could also be extended to most world markets. In short, a continued decline was expected with various degrees of bounces in between. The event from earlier this week served to distort the count but not change it. So, while a further decline was expected and this should not change, what has changed is the timing factor, the character of the decline, and the extent of the decline. At the moment, I cannot asses how these factors will change the outcome of what is to be expected. |
