When using Elliott Wave theory there are always alternate counts, sometimes there could be three or more alternate counts for the path of a market. Markets represent the mass mind, and like an individual mind can change direction. An analyst/trader must be prepared for alternative trading scenarios.
The chart courtesy of Trading View illustrates a count that assumes five waves up from March 2009 bottom is complete. If so the entire Grand Super Cycle wave in the US from the year 1790 is also complete. The February to March 2020 crash could be the first wave down in a Grand Super Cycle degree bear market lasting decades.
However, there’s another wave count that suggests the bull market that began in 2009 could continue to make new all-time highs. This wave count will be discussed in my next blog.