medium · Elliott Wave Theory ewt-core
After a completed 5-wave bull impulse, the market drops in a clear 5-wave sequence (Wave A), followed by a 3-wave bounce (Wave B). The subsequent 5-wave decline (Wave C) shows a significant negative divergence on the RSI compared to Wave A, and volume is declining.
This structure is most likely:
- Waves $1, $2, and $3 of a new bear trend
- An Expanded Flat
- A Zigzag correction
- A Running Flat
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