Since then, a powerful rally has not emerged, and so let’s take a look at the very long-term picture.
From the 1960s, a beautiful 5-wave advance is apparent. Everything counts well as an impulse wave. Tip top. I believe the fifth cycle (yellow) wave is truncated at the April 2014 high (because of both the available waves up there and the fibs available to us up there).
This count suggests that we have been correcting the 50-year advance since those highs, and we shouldn’t expect this to finish any time too soon. Cycle (yellow) 2 took 50% as long as cycle (yellow) 1 to complete, and whatever this larger correction is, it may also take 50% as long to correct, which may take us into the 2030s. I have noted one possible eventual target for cycle (yellow) c (the 78.6% retracement of the entire advance)
Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.