This is a bi-monthly wave analysis. Wave 1 started in 1989, gone through an extended Wave 3, and we are probably at the last wave, Wave 5, or the final journey of NASDAQ bull run.
As you can see from the yellow circle, NASDAQ is at the upper limit of the Elliott wave channel, and this has breached the upper trendline, and defined as a "throw-over" by Elliott....
You can see from the chart, starting of Wave 1 in March 2009, till today's Wave 5, I believe S&P is reaching the end of it's five wave cycles.
The white line Wave 5 is reaching the Elliott Wave upper trendline channel (yellow). I don't think a "throw over" will happen, for sure, it is probably just one month away from reaching the upper trendline. On the...
