It's always good to go back to the long term picture and see where we are at. I've had a lot of iterations of EW counts for the Dow Jones. After contemplation, I think this is the best one. I previously thought that we would get down to 1980 levels when we bottom in supercycle wave 4 but now I think that is impossible. Most likely we are forming an expanding triangle similar to 1960's-1970's. We will bottom when we reach below SPX 666 sometime in the next decade or early 1930s. I actually think we topped in supercycle wave 3 back in October of last year and we are in the midst of supercycle wave 4. Wave 4's are notoriously difficult to navigate. If this plays out the way I think it will, expect turbulence next decade with a low around SPX 1800-2000 than a new false ATH followed by a crash to below SPX 666.
