One more corrective leg?
Although the current rally has taken the index to new all time highs, it has been contained in parallel lines and has been challenging the base of the channel instead of its top, therefore it seems weak and, until proven otherwise, I consider it to be a potential corrective ABC wave instead of an impulse (as it appears to me has been happening since year 2009...).
Price targets:
- 2193.2: Minuette v = Minuette iv * 2
- 2194.1: Minuette v = (net Minuette i to Minuette 3) * 0.382
- 2194.6: Minuette v = Minuette i * 1.382
- 2195.7: Minute c = Minute a
Time targets (low probability):
- Minute c = Minute a * 2
- Minuette v = (net Minuette i to Minuette 3) * 0.382
I think the most important targets cannot be calculated yet because they will result of the internal structure of Minuette wave v itself.
Price targets:
- 2193.2: Minuette v = Minuette iv * 2
- 2194.1: Minuette v = (net Minuette i to Minuette 3) * 0.382
- 2194.6: Minuette v = Minuette i * 1.382
- 2195.7: Minute c = Minute a
Time targets (low probability):
- Minute c = Minute a * 2
- Minuette v = (net Minuette i to Minuette 3) * 0.382
I think the most important targets cannot be calculated yet because they will result of the internal structure of Minuette wave v itself.
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