DAX daily update
Wednesday, January 21, 2009

The last micro wave iii of v seems to me somewhat compressed, so i will not surprise if extends a litle more.

The last micro wave iii of v seems to me somewhat compressed, so i will not surprise if extends a litle more.

So, after all by my count is still missing two micro waves to this downtrend ends.

Choppy day but i think today this downtrend can be finished.

EDIT: Forget the last picture because the target was alredy made as you can see in this new picture. The downtrend maybe will finish today because this last wave v is on abcde (ending diagonal triagle).

The waves are overlap and turn the count more difficult. However this is my chart.

As DAX made a new lower low i had changed my count. During the weekend i suspected that SPX was not in wave ii and now because of DAX i'm more convinced that is yet in sub wave iv of principal i of this downtrend.

DAX had made a new lower low and i told you yesterday that the friday's increase were suspicious. So, i made a new count, as i don't believe that already we are in the wave iii of this downtreand.



This last rise movement seems suspicions to me, however i will give the benefit of the doubt to the bulls. Have a nice week.
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