Just studied the relationship between fibonacci and time analysis, as well as R.N. Elliott's "Nature's Law - The Secret of the Universe"...spent the entire weekend including yesterday gathering as much information as I can.
That was the final study in the entire Elliott Wave Principle that I had to nail down, and now I got it. The time thing was the last thing that eluded me...
From there, I studed the length of each rally and drop on the NASDAQ from 5133 to 1387, here's what I found:
It's pretty creepy how the fibonacci numbers 34, 55, and 89 pop up everywhere. 34 day pops followed with 55 or 89 day drops....in the early 90's, 55 day rallies, followed with 34 day or 21 day drops. That was during the bull market. The move from 1387 to 2066 lasted 55 days, and so far the expanded flat from 2066 has lasted 30/31 days. If this theory fits, by Friday or Monday, we'll get the next upled in the baby bull market......The big crash in '98 lasted exactly 55 days....Give or take 1-3 days for each wave:
Length of NASDAQ moves w/ Fibonacci: 34, 55, 89 days..
Wave A down: 5133 to 3042: 55 days
Wave B up: 3042 to 4252: 34 days
Move down from 4252 to 2251: 89 days
Move down from 2893 to 1619: 55 days
"Rally" from 1619 to 2328: 34 days
Move down from 2328 to 1387: 89 days
Notice, the maximum number of days in each fake bounce rally lasted 34 days...which are "A-B-C's", if this drop lasts 34 days that would also be an "A-B-C", but a correction of a bull move, which would be Wave 2 of the entire move from 1387 to 2099. The 2 other 34 day rallies in 2000 and 2001 were met with either 55 day or 89 day bear drops.
But this time, the table has turned....the move from 1387 to 2066 was 55 days, and so far the expanded flat, if that's what it turns out to be, has been 30/31 days. If the NASDAQ holds 1859 on the 33rd and 34th day, that would pretty much confirm it, and the "real" wave 4 should start, lasting around 89 days, targeting around 2893-3042. Another retracement level is at 1826, which is a .382 retrace, but 1853-1860 was the bottom of the previous wave 4, where corrections usually terminate.
Move up from 1387 to 2066: 55 days
Expanded flat from 2066, 1918, 2099 to 1859(?)
So far: 31 days and counting...
If the NASDAQ can hold 1851/1859 in the next 3-5 days, good chance that this is an expanded flat correction...
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