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Monday, March 22, 2010
Australia Ordinaries - Wave 2 is done
Wave 2 need one more rally to 4,892.20, which was within the ideal target area from 4,885 - 4,893. Wave 2 ended just above the 78.6% correction high of major wave 1 down. A break below 4,794.10 will confirm that wave 2 peaked at 4,892.20 a accelerate major wave 3 down to next support at 4612 and the bottom of major wave 1 at 4,483.30.
As wave 2 became a simple Zig-zag. We already know, that major wave 4 will be some kinde of flat or a triangle due to the Priciple of Alternation.
Be ready for major wave 3 down, as this is a very/the most powerfull of the waves.
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