According to VP, a well known EWT/ Neowave analyst, the current rally is a part of a bigger corrective structure. The current wave is the F wave and it is normal for this wave to make a new high or generate a breakout after which the G wave opens downwards.
The G wave is expected to last 1 year and should get over by 2015 after which we will have a super bull run.
The G wave may even test 4800 and if true it will offer a once in a lifetime opportunity to invest as this level will thereafter never be seen again.
My view:
Confirmation of end of F wave would require break of 6600 accompanied by formation of lower high and lower lows.
Holding above 7000 would mean trend is still up... this is the preferred view.
The G wave is expected to last 1 year and should get over by 2015 after which we will have a super bull run.
The G wave may even test 4800 and if true it will offer a once in a lifetime opportunity to invest as this level will thereafter never be seen again.
My view:
Confirmation of end of F wave would require break of 6600 accompanied by formation of lower high and lower lows.
Holding above 7000 would mean trend is still up... this is the preferred view.
