The stock market appears to be at or near the low of Primary Wave 4. It was foretasted on these pages in November 2019 that a sharp correction would occur for Primary Wave 4. That has now occurred, fulfilling the forecast, albeit later than projected. Nevertheless, the market is now in oversold territory and, it would appear, amidst all the calls in the mainstream media for the end of the bull market that began on this very day 11 years ago, set up to once again fool the majority of traders and reverse to the upside in Primary Wave 5, the final wave of the bull market. Even amidst all the fear over the Coronavirus of an imminent stock market decline and recession, the technicals are painting a different picture, as is to be expected at a low. It is the opinion of this analyst that capitulation has taken hold and a bullish reversal will commence shortly. Currently, the bull market should still be on track to end in 2022, but updates will be provided on these pages to track developments as they occur should the market dictate otherwise.
Of particular note should be a pattern that, should this count be correct, have remained consistent in this bull market. Primary Wave 2 traced out a Zigzag, and Primary Wave 4 traced out a Zigzag as well. Intermediate wave (2) traced out an expanded flat, and Intermediate wave (4) did so, too. Should this pattern of lack of alternation by corrections of like degree hold, the market should be tracing out a zigzag for Primary wave 4, of which wave (C) appears to be terminating. The next move should be a thrust to new all-time highs in Primary wave 5, to last many months. Fear is dominant currently in the stock market. Undoubtedly by it's terminus this sentiment will be lopsided, and most investors will be bullish and projecting exponential growth in the stock market. That will indeed be a sign the bull market is in it's final stages and a bear market reversal is due.
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