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Yes I know I am not going to win the popularity stakes among the equity permabulls for this post/view but here it is.
I see 5 waves higher from March 2009 finished at Jan 2018 TOP (all time high). Since then 3 wave correction down in wave A (or W) and three wave rally back up in wave B (or X). It looks to me like we are missing a big leg lower - either as wave C (5 waves) or Y (3 waves).
Either way it suggests to me that 9700-10,000 zone could be tested in the next 18 months.
Don't shoot the messenger!
I see 5 waves higher from March 2009 finished at Jan 2018 TOP (all time high). Since then 3 wave correction down in wave A (or W) and three wave rally back up in wave B (or X). It looks to me like we are missing a big leg lower - either as wave C (5 waves) or Y (3 waves).
Either way it suggests to me that 9700-10,000 zone could be tested in the next 18 months.
Don't shoot the messenger!
InvestingScope
Even tough we don't share such long term bearish bias, on a much shorter time frame we can easily see the price declining towards 12,800.
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