Exactly and if they REALLY want to push the market higher than they are going to have to do it by increasing the real value of money via productivity: We need to work our a$$ off in the new year!!
QQQ in 2001/2 moved somewhat like Scat said. 120ish top to 90 to 60 to 30 each wave a larger percentage move. QQQ 20ish was a good buy.
Well, I heard the same thing in 2011 and 2015-16. The most extreme "bear" (but not really bear) market was in 1987-88 as no recession occurred and the S&P 500 recovered its 33% loss in less than 2 years. I monitor a lot of economic data and it's not signalling a recession right now.
That's true. In fact, I believe the market tagged almost to the tick the .618 retrace off of the W1:1 on that flagpole rally into and post 2018 elections (11/7).
I believe so. My best read right now was that yesterday was either part or all of "W4 of 3 of 1" in the new bear market. (There is a protocol for describing the labels with larger numbers, brackets, parentheses, etc. I'm too lazy for all of that. I only care about what I believe to be the "most important picture right now". Sometimes it's not clear at all, but eventually becomes more so.) Since the high in early October, the "count" has been as close to clear as it ever gets. We'll see. Prector's EW work in the '70s was done before we had "interventionist markets". I often wonder if those kinds of things will make the major notions of EW invalid. Not yet AFIK.
Pardon for quoting myself... but to give you an idea of how complicated EW can be... I once had EW software which would run all of the possible counts and highlight its "best" and "alternate" counts. I remember one time the software indicated it had run "94 MILLION" possibilities. I recall the software nailing it only 2 times.
Have you ever checked out Miner's book on E-Wave? I think that it's a bit more refined than Prechter's book.