Last discussed on Twitter here, I would like to reiterate my views on $GE here with more detail since I now have the space in which I may do so. I believe it is in a supercycle wave four triangle. If cycle (yellow) c had gone materially below cycle a, I would have greater confidence that it was a bull flag or bull wedge on a macro scale that would send us significantly higher before lower, but because those two lows came close to each other, it’s formed a descending triangle which means, for us, that we may reject that trend line when we eventually get there instead of recapturing it.
So, I think we’re still grinding out primary A, after which we should move lower in B then we go for that trend line. Let’s zoom in a bit.
This sideways slop is a good candidate for a 4 and I expect we should take out the prior high sometime this year or early next year. Now the move to primary B (almost off the chart on the right) should be some kind of three-wave decline, and I expect it to be more of a grinding droop rather than anything sharp and crashy.
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