“from B”
“to B” is dead, or very nearly so in EW terms based on its rules.
So here is an updated THESIS, not a roadmap.
High degree top in Jan 2022.
Lower high in July. The “B”.
But the ABC now underway forms merely a higher degree A of a secular correction.
That will revisit the 2009 lows.
Which is interesting to my mind, in that this implies they won’t or can’t hyperinflate out of this.
Compare with Weimar in 1922-23.
The rebound B wave with new highs … (expanded flat or double top) … is his guess/inference.
Don’t bet on it. It has to alternate in form with the II wave, and I’m not clear which one he means as a check.
My own view is that a “fight” ensues and we triangulate a sideways wedge to burn time, pocketbooks and the future of an entire generation or two.
WAY OVER MY HEAD AS ALWAYS PEDRO…BUT MY TAKE IS WE CRASH HARD RIGHT NOW
JPM
https://schrts.co/TUYXVpVH
Well .. the most CASUAL review of the chart — did you look at it? — shows we’re headed down to 2750 in this move ALONE. Does that qualify?
Thanks for the post, Pedro.
I’ve been watching the debate between runaway inflation vs deflation for longer than I can remember.
I’m with you. I don’t see a way to inflate out of this mess. It’s gonna deflate like the balloon it is. Dropping asset prices while cost of living grinds higher is a killer combination. I might not live long enough to see it, but the long slow grind could easily be the path we go down.