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TheBirdisTheWord

DAX short after truncated 5th wave lacking strength.

Short
TheBirdisTheWord Updated   
CURRENCYCOM:DE30   None
Wave Analysis
4
0
waveanalysis
From the bottom in March an impulsive wave sequence can be counted with a truncated 5th wave at the end. I think we deal with a truncated wave since the last (5th) wave exists of 5 waves which means that we are in the final stages of this trend. Only alternative would be an extension of wave 5 if you ask me. Let's see how this unfolds lads. First target 9.600.

Disclaimer: I have no short position in DE30 but I am short other indices.
Comment:
Nice start with almost 200 points since my post. Fun to check this one the coming week. Should be some acceleration incoming if you ask me.
Comment:
Well, that escalated quickly! In hindsight: I was too quick labeling my micro wave 4 and we made a new cycle high. RSI remains bearish for now so the bigger picture did not change at all. I still expect a significant retrace somewhere in the coming weeks.
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