Index has almost reached the equal legs up from 5.16.2014 marked as red wave X on the chart.  Break of rising 1 hour trend line or a similar break in RSI trend line would add more conviction to the view that cycle is over and a pull back lower in wave ( X ) has […]

Index has almost reached the equal legs up from 5.16.2014 marked as red wave X on the chart.  Break of rising 1 hour trend line or a similar break in RSI trend line would add more conviction to the view that cycle is over and a pull back lower in wave ( X ) has […]

Preferred view suggests dip to 10667 completed wave B of Y. Index can reach as high as 11403 to complete wave ( W ). Index should then do a larger 3 wave pull back and resume the rally. Risk / Reward ratio is not great for longs here so we don’t like chasing strength at […]

Index has completed wave ((w)) at  9810 &  wave (( x )) pull back @ 9534. Move up from 9534 is taking the form of an impulse and can reach as high as 10050 before we get pull back in wave ( b ) and higher again. We don’t like selling the Index in any […]

Index has completed wave ((w)) at  9810 &  wave (( x )) pull back @ 9534. Move up from 9534 is taking the form of an impulse and can reach as high as 10027 before we get pull back in wave ( b ) and higher again. We don’t like selling the Index in any […]

Preferred view now is that dip to 9655 completed wave ((B)) and wave ( X ) low is also proposed to be in place at 9984. Wave (( a )) completed at 10530 and dip to 10248 completed wave (( b )). As this level holds, expect more upside toward 10581 (0.618 ext) followed by […]