It consists of 5 wave patterns that contributes to the major move ( in our case, it led up to the peak in 2007)
Followed by 3 correction waves. ( Namely A,B,C in our case..as shown in the diagram )
So does this mean its almost time to buy into the market?
- The period of 1 year 6 mths ( the average bear market) is going to end in around Apr this year
- It seems that the Elliott Wave Principle is pointing at the same time frame
* Since I did mention about the Joseph's 7 year cycle before, i suggest the buy and hold for LONG term strategy should not be practiced. But rather buy and hold for the medium term, and sell when u find that its almost at the peak of the economic cycle.