Nikkei (NI225) Short Term Elliott Wave Analysis Update 5.5.2015

Index has broken below 19348 low which means we are still in wave ((X)) pull back which is taking the form of a double three i.e. (W)-(X)-(Y) Elliott wave structure. Wave (W) ended at 19665, wave (X) took the form of a FLAT (3-3-5 structure) and completed at 19820. Wave (Y) low is now in progress and ideally expected to test 19021 – 19168 area to complete wave ((X)). In this area, we expect to see buyers in the Index and a 3 wave reaction higher at least as per Elliott Wave hedging idea. We don’t like selling the Index in proposed push lower

---------------------------------
Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&... .