Wed March 25, 22020
It was interesting to listen to conservative media equating the 'huge rally' in stocks to day to faith in Trump and then the pullback
'due to loss of confidence in failure to pass the stimulus bill. These were simply the fundamental events verifying the wave count.
Eliott Wave is a description of mass social psychology. I thought the move was a bit strong for a fourth, see previous post, but viewed on the chart it was not that impressive.
There may be a bit more left for Wave 4, passing the worthless stimulus bill, but wave 5 will begin soon. That will take out the low of March 23 under 19,000. The final low should occur in the range we have shown several times 15,000-18,000. What will happen to the faith in our leaders the talking heads expressed today when that happens/
But reaching that final fifth wave low will lead to a rally probably back to the fourth wave high recorded today at 22,019.
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