The most recent shape traced out starting Jan 20th looks very much like an ending which by all rules is supposed to be quickly retraced in the downtrend.
If it goes down, then the rest of the EU stocks will do so as well. If we break above the prior high, then the labeling is wrong and we'll do it all over again. Given how the US stocks resist to any dip I will just wait and observe what happens next.
My interpretation is that we have wave 'W' (3 swing drop) forming the low in Aug 2015, since when we have expanding flat abc (3-3-5) correction to upside completing in your ending diagonal for form wave 'X' high. Conclusion is that reversal to downside should follow soon. Here is the chart with DOW Ind which shows slightly different counts. Thankyou for sharing. image]https://www.