• Wave 3 Completion:
If the intermediate Wave 3 indeed peaked in late September, this suggests a strong, impulsive upward trend. Wave 3 is typically the longest and most dynamic wave, characterized by high momentum and broad participation.
• Corrective Wave (Wave 4):
The correction since then aligns with the Wave 4 pattern, which is generally a complex correction (ABC or double zigzag).
if the correction was an ABC zigzag, the recent lows may represent the completion of Wave 4, setting the stage for Wave 5 to new highs.
Upcoming Move:
• If the upward move is impulsive (sharp and decisive), it could signal the start of Wave 5, indicating a resumption of the bull run.
• If the move is corrective (choppy and overlapping), it might confirm the ongoing complex Wave 4 correction (e.g., a double zigzag with a Wave X forming).
2. Geopolitical and Global Macro Factors
Trump’s Return:
• A Trump administration could focus on economic nationalism, tax cuts, and pro-business policies, potentially driving U.S. markets higher, which usually benefits emerging markets like India.
3. What to Watch Next
. Nature of the Next Move:
• Impulsive (bullish resumption).
• Corrective (complex consolidation).
Conclusion
Presently the markets slated for an upswing