C wave decline today? If my analysis is correct we should decline in a C wave to the 960-958 area in the S&P. 958 is a .382 retracement from the most recent high. Short the ES from 1001.50 Chart from the July 8th low attached. Robert
Looks like we are getting our Wave 5 Mu, as pathetically low in volume as it is. In fact, I heard this morning that the VOLUME is running 50% lower than at this same time last year.
That would imply a 21.7% drop if the analog correlates with late 1938 and the decline that went into early 1939.
I have hopped onto Mu's count as well... As long as ES stays below 1007, we could still be stuck in the "B" wave of an ABC correction. Pathetic volume indeed.... that's probably why Mup decided to make a "lobster" of himself instead of sitting in front of the screen...
history always seems to repeat itself cause people alive today were aren't old enough to live in the era. same emotions of greed and fear existed in the 1920's and leading the 1929 crash 1987 crash..and post 1929 events like gov't trying to use stimulus programs etc when the underlying problem is structural...like debt and overleverage speculation and fraud that nobody wants to touch. it took 5 years AFTER the crash of 1929 before the US passed the 1934 securities act.