Wave three appears to be complete and we are in the final stages of wave 4. During wave 3 we were short the market. We covered and went long for wave 4. Since wave 4 is complete or almost complete, we are prepared for the reversal. The next wave is wave 5 down. Wave 5 down may end with a selling panic. My strategy is to be short the market but we will cover our shorts before the end of wave 5. Wave 5 will be followed by a corrective A-B-C move. Go long for the corrective move. Robert Precter recently stated that this is the opportunity of a lifetime! I believe it. But only if you know how to follow the wave theory. Check out the chart to see if you can see the theory in action.
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