Review:
Let's review the key points of the previous update (Oct. 14th):
Update:
From October 12th to 26th we got a strong bearish move as wave y and we also got the strong bounce out of it (we had identified the structure correctly). The only difference was that we did not form the third zigzag as expected and started making higher highs.
Analysis of the Structure:
We are in wave C of (5) of C of III.
Analysis of the Cycles:
We are in the second 10D cycle of the first 20D cycle of the first 40D cycle of the second 80D cycle of the first 20W cycle of the current 40W cycle.
Let's review the key points of the previous update (Oct. 14th):
- October 2022 to Jun 2023 as a wave (a) of I and since then, we are in wave (b) of I, correcting that whole bullish move.
- Wave (b) is developing as a triple zigzag and currently, we are starting wave y of (b).
- 20W cycle trough in the first week of November.
- Huge amount of bearishness going into this trough, also a strong bounce out of it.
Update:
From October 12th to 26th we got a strong bearish move as wave y and we also got the strong bounce out of it (we had identified the structure correctly). The only difference was that we did not form the third zigzag as expected and started making higher highs.
Analysis of the Structure:
We are in wave C of (5) of C of III.
Analysis of the Cycles:
We are in the second 10D cycle of the first 20D cycle of the first 40D cycle of the second 80D cycle of the first 20W cycle of the current 40W cycle.
- 20D cycle trough expected on January 19th. It's FLD has generated an upside target of 159.43.
- 40D cycle trough is expected February 2nd-6th.
- 20W cycle trough on March 11th.
