IWM Correction Targets Reached
IWM: 3/15/2020
Wave is in Wave 4 correction, but I believe it's nearly done.
Historically, IWM always corrects to the 0.5 fib, and the 3 wave corrections normally have the last wave extended to the 1.382 fib.
Currently, we put in a WXY flat, Wave W + X are clearly 3 waves in nature meaning this is not the start of a larger impulse down,
However a more complex correction could still be in store, where the WXY is just a component of this larger correction. But based on historical behavior I don't believe this to be the case. In the previous Wave 4 of a smaller degree, the correction was a simple 3 wave move.
Wave is in Wave 4 correction, but I believe it's nearly done.
Historically, IWM always corrects to the 0.5 fib, and the 3 wave corrections normally have the last wave extended to the 1.382 fib.
Currently, we put in a WXY flat, Wave W + X are clearly 3 waves in nature meaning this is not the start of a larger impulse down,
However a more complex correction could still be in store, where the WXY is just a component of this larger correction. But based on historical behavior I don't believe this to be the case. In the previous Wave 4 of a smaller degree, the correction was a simple 3 wave move.
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