Quote from jack hershey:
It may be worth beginning a glossary for yourself.
Use a monthly on an index for the current Depression.
You can see the "climax run" of the Bull market that signalled the beginning of this depression.
The Depression has completed first of it's three moves.
The Depression retrace is now ending (formally), as well.
That brings us to the question you are floundering upon. The first end of the Depression retrace has just had a failure to begin the last leg (third move of this Depression). The failure was signalled by a bookkmark being penetrated at the level of the initial end of the retrace.
The Depression's last leg was, at the time, in its second move on that sub fractal. Two "corrections", so to speak. Do the subtraction to determine this vertical point difference.
By completing a failure to break out of the retrace, the retrace has just been extended in "marking time" for a while. That is over.
Mow you get to see four interesting "corrections" over the next 10 to 12 years, the time that will be required to end this Depression. These corrections will be the sub moves that follow each of the impending VE's of the LTL.
A VE is the acceleration of a leg in a trend (the Depression in this case). In Depressions, the dominant sentiment grows stronger and this additional stength is detected by the VE. as has been shown, in JUN/JUL of 2006, the volume rate of change (velocity) peaked. An era ended at that time. The Depression has to gain "certified attention" before its full force will be felt. During this acquisition of efficacy, the time rate of change of volume lessens.
You are sitting trying to learn about corrections. there are all kinds of corrections and you can count on the financial industry staying in its perpetual quagmire on the definition of a correction. Too bad for them and too bad for you.
So As I am suggesting the future is extremely bright for those who know what is going on and quit dull and perpetual for those who do not (as a do not know, read 'spurt's corny stuff and mistaken charts).
