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By Red Dragon leo (Reporter)
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ES Morning Update December 10th 2021

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Yesterday looked like the completion of a wave 4 pullback inside this medium B wave rally from the triple bottom lows last week. It’s a bull flag too, which support another push up for the small wave 5 to complete this B wave, but keep in mind it doesn’t have to make a higher high as it could truncate short.

Once done the next drop should be the medium C down, which again I think will drop into the 4400′s before completing. It should take out that 4500 triple bottom to run the stops on every bull that is long from that zone. After that is completed we’ll be free to rally up the rest of the year safety I think.

This entire ABC correction should be a large wave 4 with large wave 2 being the 10% correction from September to October of 2020. I said “should be” because the recent 5% correction in September might have been that wave 4 as I’ve mentioned in the past. As you probably know I’ve been complaining for months about how shallow it was and how it wasn’t deep enough in my opinion to be the large wave 4 down. So if we get this drop into the 4400′s then I’ll re-label that 5% drop as just part of of the large wave 3 up with the large wave 4 down being the current correction we are in now.

Then… assuming this happens, next we should start the large wave 5 up, which of course will have 5 medium waves inside it. The large wave 3 up from last year to the current all time high was rough 1500 points, (this assumes this new wave count) so the large wave 5 up can match that easily or extend even more. They are the trickiest waves as they can end short (truncate) or extend and extend.

In a normal market you might see them being equal to the wave 1 inside the pattern, but we are NOT in a normal market. This is the end of an 80+ year super cycle, I mean we are going into the final phase of the last year or two of the blow off top that was last seen in the run up into the 1929 top and 1837 before that. We can all see the great evil reset is coming, whether we like it or not. They only happen in huge cycles like this 80-90 year one we are currently in.

So you can count on some crazy stupid high in the market happening before it all collapses. Anyway, that’s still far away and I’m a short term trader so let’s focus on the next few days to weeks for now. I think today ends the small wave 5 up and the medium B up. That means next week the medium C down should play out. Have a blessed day.



Source: http://reddragonleo.com/2021/12/10/es-morning-update-december-10th-2021/


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