Nikkei Short-term Elliott Wave Analysis 8.10.2016

Preferred Elliott wave count suggests that dips to 15926 ended wave (X) and Index has started rally higher in the form of a zigzag structure where wave (v) of ((a)) is in progress and can reach as high as 16911, then it should pullback in wave ((b)) in 3, 7, or 11 swing to correct rally from 15926 before Index resumes higher. We don’t like selling the proposed pullback and as far as pivot at 15926 stays intact during the pullback, expect Index to resume higher again.


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