$NKI (Nikkei Futures) 7.29.2013

Nikkei futures decline from 14990 initially looked corrective but given the amount of extension in 3rd swing, we like the idea of an incomplete impulse. Expect a test of 13313 to complete wave 3 before we get a wave 4 pull back and a new low to complete a 5 wave drop from 14990 i.e wave ( A ) and we should then see a 3 wave recovery in the Index

Back