I post this chart not because I invest in this market but because I happen to live there. This count suggests that the downward correction could have quite a bit further to go although on a positive note, it also suggests upside eventually. A possible clue could be the EW principle of alternation and while the wave 2 correction was a short one to the 38.2 fib retracement this one could hit the 50 or even the 61.8. I hope I'm wrong as this would suggest a lot of pain for the economy here......
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.