Elliott Wave and Index Trends with POKERSAM Message Board

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Strategies & Market Trends : Elliott Wave and Index Trends with POKERSAM

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Mongo2116

From: POKERSAM	11/6/2021 7:27:07 PM
	2 Recommendations Read Replies (1) of 1780

You may be wondering why I left the bear up in the header with the S&P advancing another 3.8% beyond the last topping opportunity at 4545. It is fairly common for a wave 5to continue to sub divide and extend several times beyond the first time it has enough waves to end. Fives will at times continue higher becoming the longest wave in an impulse. They actually have the widest possible range of any motive wave in an impulse. The possible range of a five is from slightly less than wave one to 1.62 times the length from 0 to the end of 3. They can also, of course, be truncated and not surpass the end of three. So their potential range is huge. Our current Primary [5]can add 750 more points to its last high before reaching the potential limit for a wave five. All that aside, the S&P is once again at an inflection point where Super Cycle (I) could end at its last high and have a clear and proper complete count. We shall see. There are two reasons the bear remains in the header. 1. There is a high odds indication that the END of this SC (I) bull market could take place soon if it has not already based on the EWP wave count off the GSC wave [IV] bottom at 666. 2. There are 17 sentiment and economic indicators that are ALL at ALL TIME EXTREME LEVELS. The last time these indicators reached new all time extreme levels were at the 2000 and 2008 tops when both resulted in 50% plus corrections in the S&P. Those historic indicator levels have all been surpassed at present. So IMO whether the top is in or will be shortly I think the bear in the header is appropriate. This will be a market correction of at least 50% and will be an historic tear your face off correction. For everyone but the Perma Bulls this will be a huge money making opportunity. The Perma Bulls will be calling bottoms all the way down. This happens just as the Perma Bears have been calling tops all the way up. But remember that there are always more Perma Bulls than Perma bears. To be bullish is the natural state of man. Hence we have such huge bullish extremes at market tops. I invite you to join me in the Trading Pit and see up to ten charts per day covering short term to long term EWP counts for the S&P 500. I will also be discussing the 17 indicators that point to the imminent top of the bull market. indexinsight.com

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