On Monday the 25 of January I worte that we should see a continuation of the decline towards ideal wave 3 target at 5,567. It went to 5,579 (just 0.002% from the ideal target), After hitting wave 3 target near 5,567 I expected a correction back to the triangle apex, which I had close to 5,680, and we have seen a correction reaching 5,675 (just 5 points or 0.0009% from its ideal target).
This kind of predicting can only be made thanks to R.N. Elliott's discovery of the Wave Principle.
Looking further ahead, we can expect a decline towards at least 5,500 as wave 5 of wave I target. That said I would not be surprised to see a continuation down to the next level of strong support near 5,352 before wave 5 ends, but we will have to see how the internal structures of wave 5 of wave I develops.
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