Early highs today, begin September selloff too

31 sie 2023

Based on today’s open, Minute wave 4 likely lasted one hour near the end of trading yesterday. This sets the table for an earlier high in the markets today before everything should go south for the remainder of the week. Using the most specific datasets for determining Minute wave 5’s duration points to it only lasting 2 hours with secondary at 3 hours. Fourth duration is 6 hours and fifth is tied at 4, 7, or 9 hours. The minimum move for this dataset is 101.86% extension of wave 3 (already surpassed at open). Quartiles are 116.85%, 121.90%, and 128.83% with maximum historical move at 198.67% (and likely well out of reach today). The next projections based on slightly broader data has the extension quartiles at 112.59% (4535.06), 136.765% (4560.80), and 147.05%. The duration models agree most at 2 hours, secondary at 3 hours, fourth at 1 hour, and fifth at 6 hours. The broadest dataset has the extension quartiles at 110.87%, 128.83%, 156.22%. Strongest model duration is at 1 hour, second is 2 hours, third is 3 hours, fourth is 5 hours, fifth is 6 hours, sixth is 5 hours.
Looks like Minute wave 5 began at the 4505.88 low with about 1.5 hours left to trade on August 30th. It preceded to complete Minuette wave 1 up with a top at 4519.24 and then Minuette wave 2 down at 4510.89. The index open today in Minuette wave 3 which should be followed by a wave 4 down and final final wave 5 up. With this analysis written within the first 30 minutes of trading on August 31st, Minute wave 5 is currently in its third hour and possibly ending Minuette wave 3. The market top is fixing to end prior to 1230 eastern time today around 4535-4544. Markets should be deep in the red after today which is setting up for a heavy selloff in September.