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Current Short Term Downtrend Should End Next Monday

Published 08/21/2015, 05:35 AM
Updated 07/09/2023, 06:31 AM

In my last article I was wrong and the uptrend ended on only 5 sub waves up instead of 9 sub waves up. So that uptrend ended last Tuesday and we have been in a strong downtrend since Tuesday. I updated my subscribers last Tuesday about the early"reversal".

This current downtrend has been very strong and everyone is wondering when it will end. According to my new analysis the remaining 7 big waves will all consist of 5 sub waves.

The 5th sub wave is now executing today (Friday) and we could still have some small sub waves to get processed on Monday morning. But it could go up right at Monday's open, because it's so oversold and the bulls like to party early.

So the new uptrend starting on Monday next week could last about 5 days and it will be a A/B/C counter trend rally that will take the market back up. Realize that I have been saying that we started a new big bearish pattern and trend since the S&P 500 2134 top. That being said, we are of course going to see stronger down trends and weaker up trends.

The Dow and NYSE have both had their recent "Death Crosses", so we are getting more confirmation of a bear market.

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