Cycle Degree
Cycle degree is one of the nine hierarchical levels of wave patterns that Elliott identified. These waves typically span one to several years and are notated with Roman numerals (I, II, III, IV, V) for motive waves and (A, B, C) for corrective waves. A complete cycle degree sequence, five waves up and three waves down, might take five to ten years to play out. This is the degree that most long-term investors and position traders care about. A cycle degree Wave III bull market is where the biggest gains happen over several years. Cycle degree sits in the middle of Elliott's hierarchy, with Supercycle and Grand Supercycle above it and Primary and Intermediate below it. Each cycle degree wave subdivides into five or three primary degree waves. Understanding which cycle degree wave the market currently occupies gives you the big picture context that keeps you from fighting the dominant trend on shorter timeframes.
The U.S. stock market's advance from the 2009 low to the 2024 high could be counted as Cycle degree Wave V of a larger Supercycle advance. This single wave subdivided into five Primary degree waves, with the Primary Wave III being the longest stretch from 2011 to 2020.