Updated DJI chart. Projecting this wave's rise to be equal to Wave 1 (73.38%). The b wave of Wave 1 was 26 months from the 2009 low. Wave 3 was 43 months (1.6 x Wave 1). Wave 5 is closing in on 26 months. Even if this up move is only finishing wave 3 (the alternate count that is super bullish), there still should be a nasty correction once target is reached. Bullishness is everywhere. The DJI has also overthrown its channel.
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(Edit: Meant to say wave 3 was 1.6 x the b wave high.)
Take a look at the Wilshire 5000 to GDP on Warren Buffet's site.
March 2000 it peaked out at 148.5% of GDP
Currently we are at 145.8% of GDP
There number reflects Quarter 3 with 19.5 trillion GDP so take Quarter 4 at 19.9 trillion to the March of 2000 High 148.5% GDP and you have a Dow Jones Industrial Average around 26,306
Thats interesting that your number is so close but i believe March will be a peak if we only have 4% left to go in the market before a correction i hope your right and besides Warren Buffet's model
has really really high accuracy.
Also When you overlay the energy sector over the S & P 500 theres another strong correlation there that the market corrects in March you can find that article on Seeking Alpha it came out yesterday very interesting read.
Either way it should be a 10 to 20% correction even with the super bullish alternate count.
thx1000
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@ecramer, Thanks, I just looked at those charts. Also, you may already have these sites bookmarked, but here are some inflation adjusted and more GDP chart links. Regards.
March 2000 it peaked out at 148.5% of GDP
Currently we are at 145.8% of GDP
There number reflects Quarter 3 with 19.5 trillion GDP so take Quarter 4 at 19.9 trillion to the March of 2000 High 148.5% GDP and you have a Dow Jones Industrial Average around 26,306
Thats interesting that your number is so close but i believe March will be a peak if we only have 4% left to go in the market before a correction i hope your right and besides Warren Buffet's model
has really really high accuracy.
Also When you overlay the energy sector over the S & P 500 theres another strong correlation there that the market corrects in March you can find that article on Seeking Alpha it came out yesterday very interesting read.
Either way it should be a 10 to 20% correction even with the super bullish alternate count.