Great work as always. I wonder what your opinion is if we consider the case is complex wxy...
Another Primary ABC? or start of an impulse wave?
I find the complex scenario more likely considering volume and other psychological reasons, and also if we consider this rise as a huge B or X wave - If the analyst can easily say to himself - there is something wrong with this market - which is a little connected to this weird and rapid rise...
however considering the bull scenario - 4th waves tend to register their maximum retracement within the span of travel of the previous fourth wave of one lesser degree - When we consider this issue the 4th primary wave which ended at 3148 is exactly the same as the previous fourth wave of one lesser degree in August 2017. So that also makes sense and seems like we do not have to retrace anymore.
So confusing times..
If the W-X-Y scenario is underway (i.e. a secular bear market), then the next secular bull market cycle will be expected to unfold in an A-B-C structure once again but not necessarily in the same pattern or timespan again.
The risk with the W-X-Y scenario, is that it has the potential to completely collapse the market with no return i.e. a collapse of a true bubble.
While I don't know much about Elliot wave, but is it possible we are currently in the B wave of an ABC correction? I.e. wave A is from 20k -3k?. This 'bull market' seems very fishy as we've already retraced more than 50 percent from the bear market.