Those of you who work if the finance industry probably already heard that last week was the worst for S&P 500 and Dow Jones since 2011 (panic around Greece defaulting on its debt).
I got quite a lot of questions whether it is The End (if you would like to know why please read my article Why Global Crisis is Inevitable?) or we still have some time left...
To answer this question I prepared my view of the Dow Jones index using Elliott Waves:
Without going into too many details, in the 1920's Elliott discovered that market movements can be explained by the psychology of the masses and progress in repetitive patterns.
On the graph above you can see that 2008 - 2009 crisis was a big Wave #4 and we are currently in the last phase of the upward mega trend. First correct to the global Wave #5 was in 2011 (small correction wave #2) and in 2015 (small correction wave #4). After that we went into almost vertical growth of the fifth wave...
Current "fall of a cliff" means only one thing - we have just started a drastic decline which will cause ~80% of money loss for equity and debt holders! However, another option is current correction is only small wave #4 and we still have a small wave #5 - in this case we have still have about 5 - 6 months to get used to the "new economic reality"...
... Good Luck!
P.S. I tried to write a quick summary but if you have more questions please just write them in the comments and I will answer ;)
Congratulations @conspi-theorist! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!