Since late March 2012 I have been looking for wave D to end near 16,450 (see my long term count here ). As you can see I expected the top to be in during 2013 and we saw the high at 16,588.25 on December 31 - 2013. (It does give associations to the Nikkei which also topped out on the very last day of 1989 and then it was by-by for decades).
We now have a five wave decline in place from the 16,588.25, which tells us, that after a correction we should look for a least one more decline. However, I think the coming decline will be much more server than that. Longer term I'm looking for wave E to just below 6,000 to end the major expanded triangle, which has been developing since early 2000.
Short term I will be looking for the first five wave decline from 16,588.25 to end near 15,555, but it could easily extend lower towards 15,347 before a correction is expected.
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