A Shoulder/Head/Shoulder top has been activated calling for further downside action in the short term. The S/H/S neck-line should stay intact or just be breached slightly before the break below 5,535 for a move closer to the 5,450 S/H/S target and ending wave 1 down.
The decline since the top is clearly the biggest and fastest we have seen a very long time. We still need more more decline the 6,026 bottom to have a 5 wave decline, which should ideally be followed by a three wave rally towards the 6,221 area adding confidence in the call for an important top.
A Shoulder/Head/Shoulder top has been activated calling for further downside action in the short term. The S/H/S neck-line should stay intact or just be breached slightly before the break below 5,535 for a move closer to the 5,450 S/H/S target and ending wave 1 down.
The decline since the top is clearly the biggest and fastest we have seen a very long time. We still need more more decline the 6,026 bottom to have a 5 wave decline, which should ideally be followed by a three wave rally towards the 6,221 area adding confidence in the call for an important top. 
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