![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-Q_5VVm9_O1PLKfx3vzAwtx2QRJrmKPn_DtNLh2D-9JyvkgPHJ9chFWE6WIF3UF1FFpqbSH_MlzdMD8koR7bI9v3D3iwVnQSAWqRxnVLZk5rc41gmiPRVAILwhTkSPUPFh0GF_L0-7Sg/s400/image003.gif)
As the rally from 138.22 was clearly impulsive (5 wave), the only possibility is that it was wave C of some kind of flat correction. In this case an Expanding Flat.
We are now in wave 3 down and the point of recognition will soon be seen and the decline from 142.82 accelerate to the downside.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7GJNc3tLUhvL5am3rpTthzSPdlFj_bytSLCy6RhtE6bm_3tyoqYOJDgG79WQaphXAtPu5Lg7Ot_o8pQiQvxeLiTBO1R9ffuiwHQTKjpLWdvBPmSg1Q1gKNBWZ0mRZfxMdsN67Qtkel4o/s400/image002.gif)
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