The wave 2 correction stopped just below the 1,151.37 target and wave 3 of 5 down is under way. I do expect wave 3 to reach the 1,054 area, before some kind of flat or triangle correction sets in.The Naked short selling ban from Germany has caused a lot of positions in Emergin Markets, high yelding countries and commodities to be sold of and the negative mood sould hit the US-market too.
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