I believe that this year the saying "Sell in may and go away" won't work.
We can see a very complex and time consuming correction. It is an irregular correction where wave (b) tops wave (a) (in red). The structure is 3-3-5.
Wave (c) is unfolding and we can count 5 waves down. Wave 2 is very small and shallow. Wave 4 is again a complex correction. We should see a last wave 5 to complete wave (c) and after this wave is over we should see a strong impulse to 13000.
The target for wave (c) is 200% of wave (a).
The target for wave (5) is 50% or 61.8% of the distance of start of wave (1) to the endpoint of wave (3) added to the expected termination point of wave (4).
We can see a very complex and time consuming correction. It is an irregular correction where wave (b) tops wave (a) (in red). The structure is 3-3-5.
Wave (c) is unfolding and we can count 5 waves down. Wave 2 is very small and shallow. Wave 4 is again a complex correction. We should see a last wave 5 to complete wave (c) and after this wave is over we should see a strong impulse to 13000.
The target for wave (c) is 200% of wave (a).
The target for wave (5) is 50% or 61.8% of the distance of start of wave (1) to the endpoint of wave (3) added to the expected termination point of wave (4).