May 19, 2014

Elliot wave analysis

According to VP, a well known EWT/ Neowave analyst, the current rally is a part of a bigger corrective structure. The current wave is the F wave and it is normal for this wave to make a new high or generate a breakout after which the G wave opens downwards.

The G wave is expected to last 1 year and should get over by 2015 after which we will have a super bull run.

The G wave may even test 4800 and if true it will offer a once in a lifetime opportunity to invest as this level will thereafter never be seen again.

My view:

Confirmation of end of F wave would require break of 6600 accompanied by formation of lower high and lower lows.

Holding above 7000 would mean trend is still up... this is the preferred view.

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