Goodfella - "Todays move almost confirms that the AM price action on 31/12 was a truncated fifth wave down which gives a swift and violent retracement (ie today)"
Is your wave count now suggesting a major change of trend?
I've given up trying to follow Elliot for the time being...I mean, how could it have foreseen today's manufacturing figures?
My preferred scenario is another run towards 9000...If 9000 was breached that would complete a major inverse H&S with a target of 10,800 (you cannot be serious!!)
..I think it will fail at somewhere near 8900, which is also where it will meet the 200 day moving average. 9000 is some serious resistance IMO
