The market is overdue for a correction but I expect the correction is shallow. My wave count is that we are right now in the minor 5 of intermediate (C) of primary [B] of cycle c of supercycle (a) of grand supercycle [IV]. The minor 5 will be slow and last another 1 – 2 months to reach 2008 August high (11800 – 11900) before the primary [C] starts. When market tops, I anticipate the VIX will drop to single digit eventually.
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