In my last post from January 11 I was look for wave c lower towards 5,700 before renewed upside pressure would take over. As can be seen support at 5,700 was not even close to be tested as wave c ended already at 5,933. Thereby the wave ii correction on corrected 38.2% of wave i, which indicates strength in this market. As the first target for wave iii I will be looking for a move higher towards 7.146 and possibly even higher. Ideally support at 6,429 will protect the downside, but it will take a break below 5,933 to invalidate my bullish count.
