Inevitably the ALSI index follows the ALSI Swix into a similar recount (See previous post). The Top 40 has gone the same way. What it means is that the trend has not yet changed to bullish.
Primary wave [2] did not complete at (W). The collapse of price into what was thought as Minor wave 1 breaks one of only 3 rules of the Elliott theory. This means that after [1] the pattern is an extended zigzag or double zigzag and presently this is the second (A) wave.
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