His first five waves down off the all-time high are incorrect and do not conform to the tenets of Elliott Wave Theory. Nonetheless, he may well be correct in his larger inference insofar a potential bottom is concerned. He also needs to identify the larger degree of trend label associated with his forthcoming circled "c" wave.
And yeah, never lose faith - but don't don the blinders either... There's a balance there somewhere... :-)
Thanks and I’ve also seen people label the current wave a Y wave. I’m still trying to understand Elliot better myself
Cool... :-) One of the very first basic tenets is that in an impulse wave, be it bullish or bearish, wave 4 cannot overlap the price level of wave 1. It's a rather interesting theory, and once you get the hang of it, it can be kind of addicting... Especially if you like puzzles... lol...