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Friday, August 20, 2010

Shanghai Composite - The correction is finished

For quite some time ago I marked the area, where I expected wave ii to end. We just hit that area yesterday. Having said that I must also say, that I had wave i ending at the 2,319.73 low, but looking at the internals again it's more likely that wave i isn't over yet, and we are only beginning wave (v) down from 2,701.93.

As we are currently tracing out wave 3 down I would expect it to become extended and reach the area between 1,995 - 2,001. In this area wave (v) will become equal in length to wave (iii) down.

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