S&P 500 in mega wave VI Option.

Since Dow and S&P 500 should move more or less in the same trend, it may be possible to deduce the likely option for Dow based on S&P's chart pattern.

Based on the above wave count, it is possible that the March 2000's peak of 1,527 is the end of mega wave V. Since march 2000 the market is either in the process of forming its mega wave VI as shown below or forming its super wave (IV) (not shown).

At this moment S&P is either forming the ending wave of the major wave 1 of mega wave VII.


Or it is forming major wave X of the A-B-C-X-A-B-C wave pattern.



It is possible that Dow too is forming either its major wave 1 of mega wave VII or major wave X of mega wave VI. But whatever it is the market is at the upper reaches closer to its peak. I personally think that the risk is high to hold stocks at this level. I would prefer to hold more cash than stocks.




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