- Both the and indicators diverging at the 61.8 - 76.4% retracement of the downtrend from 26th May - 9th June.
- An ending diagonal/ signalling the end of what looks like Wave III
- candles at the 11630
Closing the gap from Monday 22nd at 11457 with no Greek deal, we have retraced 38.2% of Wave III .
However the rally from 18th June - 23rd June lasted 5 days, I would be looking for wave IVs correction to last 2.5 - 3 days. Resting in the lower Green (38.2 - 50.0% retracement) but not closing under 11285; the high of Wave I.
There I will look for divergences/ optimistic news on Greece to long the beginning of Wave V. A break of 11285 will void this analysis.