From a e-wave perspective we stand at the crossroads of a historic junction in stock markets. I generally don't like using hyperboles and creating drama. I post it as i see it. As i have said many times, i don't run any service and i don't have a vested interest in my posts. I saw a 10% crash last week, i posted it, i traded it and made nice profits. This was the only crash call i have made in the last 10 years and got it right. Bottomline, if i am saying "HISTORIC", it is indeed historic what we are about to witness.
Let's cut to the chase. The 2015 correction on SPX was 2134-1810 = 324 points. 2018 correction so far has been 2872-2532 = 340 points. The 2015 correction took about 9 months to complete. This correction took about 9 days. So this is the largest fastest correction since this entire rally began in 2009. This has two implications:
1) The most obvious one is that 2015 correction was a wave 4 correction and we have been in a wave 5 since then. This has been the most favourite count among the e-wavers. But it may not be the correct one, if you look at the momentum of the advance since then and the NYSE cumulative A/D line. But for argument sake, if we consider this as the correct count, then the bull market from 2009 is over and we start a primary degree wave 2 correction. A clue that this is transpiring is if we go down and break below the 200 MA on SPX and plunge from there or sustain below that.
2) However there is a second scenario. Da_cheif, Tony caldaro and a couple of others are in this camp. In this scenario, a primary degree wave 1 ended in 2015 and the 324 points correction in 2015 was a primary degree wave 2. Currently we are in a primary degree wave 3 since then. If this count is true, then the correction we witnessed so far is a intermediate term wave 2 and a intermediate term wave 3 (of Primary 3) will begin here. This is a hyper-bullish scenario and is very much possible. A clue to this is, if the market rallies to new recovery highs in a "V" or slingshot fashion.
Whatever transpires, do not be on the wrong side of the history. This is gonna be a doozy !. Do not get influenced by the experts, gurus, CNBC, money managers et al. Follow the price wherever it goes. It's going to be a huge money making opportunity.