Nikkei - Long Term Hypothesis 1

TVC:NI225   Nikkei 225 Index
I have two hypothesis on the current situation. Both hypothesis begin in Nov 2012 @8661. The first hypothesis is that since 8661 there has already occured a whole cycle, 1-2-3-4-5-A-B-C, ended on feb 2016 @14915, and that we are now in the beginning of wave 5 of the second cycle.

For this hypothesis to be upheld, Nikkei must not go below 21100. If this level acts as support, a 4794 points extrapolation of wave 1 should send the Nikkei to 25863 before yearend.

There is a chance this hypothesis is not correct, and that we are now entering wave 5 of a bigger cycle that began @8661. In this case the chart would be showing only 1 cycle instead of two. If this is the case, then wave 5 should extend to 28320. This chart will be posted soon.

Comment: Chart numbers should have been 1,3,5 in both cases. Bear with me it's my first post.
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