The major bull market range of 1982-2000 is nearing the 50/50 point in price and time. Price is at a 50% retrace in one-half of the time of the bull market. If the market bottoms here between now and January, we can all sit back and say “that was obvious”. Of course, we all know that while it is going on, nothing is obvious. This is why my motto is “finding the cycles is easy, trading the cycles is not”.
Something I had not really thought about until tonight - odd, isn’t it - is that the moves since 2000 are carving out a pretty bullish A-B-C correction of the 1982-2000 bull market. Looking at it this way, a move down to the 1×4 Gann angle on the chart above will put price at the lower end of the trend from 1982-1996.
Charts courtesy of Stockcharts.com
So, what do y’all think about the low hitting at one-half of the cycle of the A leg down? The B leg took twice the time. Maybe the C leg takes half? Just something to ponder as I slave away at my day job… 
Tags: A-B-C Correction · Elliott Wave Analysis · Gann Angle Fan · Standard and Poor's 500 (SP500)2 Comments
2 responses so far ↓
where’s the Pitch Fork at this week….I bet he went to Vegas for the traders show???? Andy, Jobless claims in 10 min. it is non-psychological today if you ask me. We just need to finish this 3rd wave and start the larger degree 4, I really think we have another 5 waves to go Andy after 4…but we could do a flat…and that would be the ultimate if you ask me….a grand supercycle acending flat….Yea!…but my heart tells me to get ready for “D” day. I hate to say it…but add it all up like being in a grocery store and there is nothing left unless we all give up our 401 K’s to the people who put us in this mess in the first place…really sad….OH Fred, if FSLR breaks 96-93 dollars it is as good as gone….won’t be pretty, will look like Goog, and Bidu ….but I do like both of those for later,,,, but I also like gold better…as soon as it reaches 600-625 buy buy buy….Andy found a great trade for it…DGP…cheap and double down ..we’ll get you, out of that depressing job,(me too) after the B wave up, I would like it if Chrib’s Mom would do another updated chart….I will go ask,,,, she is good. OK nasty jobs report…futures off and running….down…yea me yea me…..gotta go…not sure if I will have a job soon….scarey…..after all these years….
i’ll go for the quarter time correction. ;)….
it was something that flashed through my head at one point too…but I don’t know if I read it somewhere else first, or what ….