Marsh & McLennan (MMC): Complex Correction Nearing Completion

Wave Structure
The larger decline from the 2024 peak at 248.00 appears to have unfolded as a five-part complex combination (W–X–Y–X–Z).
Each leg subdivides neatly into corrective (a–b–c) formations, with Wave Z recently tagging the long-term support trendline connecting prior W–Y lows around 185.

RSI Window
RSI is flashing a bullish divergence — higher lows in RSI versus lower lows in price — hinting that downside momentum is fading. This setup often precedes the end of complex corrections.
A sustained rebound above 200–207.83 could confirm that Wave Z has completed, paving the way for a fresh impulsive advance.

Fundamental Context

Under the hood, Marsh & McLennan continues to show resilience:

• Free Cash Flow has climbed steadily to $3.99 B (FY 2024).
  
• Revenue doubled over the past decade to $24.4 B, highlighting strong business traction.
  
• Debt levels remain contained around $19 B, and the P/E ratio near 22.8 reflects a healthy, not overheated, valuation.
  

Together, these metrics support the view that the recent technical correction is more of a valuation reset than a structural breakdown.

Summary
Wave Z’s completion zone aligns with both technical exhaustion (RSI divergence, channel support) and fundamental stability — a combination that often sparks medium-term trend reversals.
Keep an eye on momentum confirmation above 207.83; it could mark the start of a new impulsive wave higher.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.