27 April 2018

It appears that new highs may be in our future.  Let's see how the next few days play out.   This scenario shows a bounce off the upper trend line at d.  Then a bullish recovery to somewhere over 3000 after completing wave e to finish Wave 5 .
But this should be a 3-3-3-3-3.
                            (  a-b-c- ? - ? )
Does Wave a and Wave c look like three or five waves?

 If this count is still unfolding it would mean a swift decline is eminent as the market falls into wave (iii) of [i].  This count should be 5-3-5-3-5.
                                              (   [i]-[ii]-(i)-(ii)-?   )

In each scenario an argument for the correct wave count can be made.  The question is do you see fives or threes in the descending waves [i] and (i)?   If you see fives then it's bearish.  If you see threes then it's bullish.

This is a classic example of a triangle playing out right now.  Notice the explosive actions after Wave e!
It is common for this burst to be equal to Wave a