MATA: PATTERNS & PIVOTS
IS A 200 DMA OVERHEAD RESISTANCE TEST IN THE CARDS?
BASIS OF PROJECTIONS:
- “EVENTS” with a beginning and an expected end like the Coronavirus often are spikes in the market and typically exhibit “V” bottoms when the news turns positive.
- “V bottoms” are also characteristic of Bear Market Counter Rallies! So how do we tell the difference? By Understanding “Events” versus “Processes”.
- “TOPS” and “BOTTOMS” are “PROCESSES” that signal important Trend Reversals.
- Tops normally show the form of “M”, Head & Shoulders or Dooms. Bottoms are often “W” in form. The outside strength of the “M” & “W” can and does distort their symmetrical legs. Elliott Wave Analysis helps determine this distortion within the process by focusing on Price, Time AND Form.
- Our Analysis suggests we are presently in a Corrective Intermediate Down Trend (the red ABC below), within a Longer Term Primary Up Trend
- Much of what is highlighted below aligns with our expected “Value” migration which we have previously outlined in our 2020 Thesis Paper and February’s UnderTheLens and LONGWave videos.
- We are presently experiencing a major, multi-decade “Stabilization Test” which we highlighted as coming sometime in 2020 in our recent Three Part Macro Analytics Video Series.
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