Automatic Data Processing (ADP): A Potential 5 Year Bear Market Follows a 12 Year Bull Run?

SUMMARY

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Here is American Data Processing (ADP) weekly chart and it has thus far crisply marked waves 1, 2 and 3. Wave 4 correction could pose a potential 4-5 year bear market for ADP; given it's just completed 12 year bull run since the bottom of wave 2. Given that the Cycle degree of trend has pretty much topped out the white wave 3; it means that waves 4 and 5 are on deck.

The blue subwaves of white wave 3 show near completion, if not already. White wave 4 is shown to retrace about 0.38 of white wave 3 but it could also approach 0.5 Fib level. The time consumption by this correction is also likely to be a few years rather than weeks or months. Perhaps this correction will coincide with a slump in payroll processing or a recession? Regardless, once complete, Cycle degree white wave 5 is expected to take prices to all time new highs.

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