Bill Wolfe says: There is a potential stock market crash coming!
As all of my students know, I never incorporate fundamental, news, politics or the like, in my market analysis. My opinion is always based on my fifty-years of wave study. The waves cannot be more bearish.
On the monthly chart, the long term bullish wave was satisfied when price hit the Target Line in 2007. (Chart not shown.)
Since then, price is in the the process of forming the next bullish wave. Wave 4 of this potential bullish wave has enormous "pressure points" pressing down on the potential 1 to 4 line. The lesson on "pressure points" calls for price to be forced down "with a vengeance."
For this to happen, price would have to go below a price that is too scary to mention, but that is what the rules suggest.
Even if the market would make a new high, it would still be only a 3 point for the next bearish wave.
If I am wrong on this, I apologise to the followers that lost opportunity. If I am correct, I hope to have you all as future Wolfe Wave Practioners.
