(Click at the picture to enlarge)After the break below the uptrend-line from early March and the very impulsive looking decline late last night both add confidence to my call for a top Yesterday.
I'm looking for a move to at least 44.92, but would expect a further drop to the 43.22 area where wave 3 will be 1.618 times the lengh of wave 1.
As I look around all my charts more and more evidence points to important tops have been set Monday or at yesterdays highs. The German DAX seems to have topped, the UK FTSE 100, all the major US indices, the Brazilian Bovespa and the Indian Sensex all seems to have topped too. We do need some more downside action to cast the final verdicte, but it looks very convincing.
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