Overview:
Let's review the key points of the previous update (September 24th):
Update:
Analysis of the Structure:
We are in wave IV of (c) of y of 2. I expect the completion of wave IV on Monday (October 30th), then we start a week of bearishness as wave V of (c) of y. A potential target for the bottom is 13715 (because wave IV is not yet complete, the target is an approximation).
Analysis of the Cycles:
We are in the last 5D cycle of the first 80D cycle of the current 20W cycle. November 2nd is my date for the 80D cycle trough. Expect a strong bullish bounce out of this trough.
Let's review the key points of the previous update (September 24th):
- We are in wave 2, a triple zigzag.
- September 25th is the first 40D cycle trough (completes wave (a) of y of 2).
- 80D cycle trough on 24-27th of October.
- 20W cycle trough due on 1st-15th of January 2024.
- 40W cycle trough in May 2024.
Update:
Analysis of the Structure:
We are in wave IV of (c) of y of 2. I expect the completion of wave IV on Monday (October 30th), then we start a week of bearishness as wave V of (c) of y. A potential target for the bottom is 13715 (because wave IV is not yet complete, the target is an approximation).
Analysis of the Cycles:
We are in the last 5D cycle of the first 80D cycle of the current 20W cycle. November 2nd is my date for the 80D cycle trough. Expect a strong bullish bounce out of this trough.