Update 9th April..
And the bigger picture reveals that there was a target hiding in plain sight...
Previously:
The ALSI Swix index is suggesting that the end of Minor wave 3 is upon us. It can also be the end of the second bear trend correction and the commencement of the fifth and final leg of that Primary degree trend. The dotted line is the top of Minor wave 1 which Minor wave 4 of a standard impulsive pattern should not enter. If it does pass below the top of Minor wave 1 then the entire pattern for Intermediate wave (1) would need to be a leading diagonal in order for a bull trend to exist. The more probable outcome of such an eventuality would be that the bear trend has yet to conclude.
Appendage:
My daily view of the JSE Top 40 Index, J200... it has the same story as above..
Like all of the charts that I post, this pattern analysis employs the standard version of the Elliott Wave Theory and is intended only to demonstrate my own momentary view within my own application of that theory.
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