by m.tamosauskas| October 26, 2012 | No Comments
The decline from the September high of 1474.51 is still in progress, unfolding as a 4th wave within a larger ongoing five wave upswing from the June low of 1266.74. Shorter-term, downside targets measure to 1396.08 but could also extend to the fib. 50% support at 1389.44. As this is commonly the max. retracement for a 4th wave, <b>any acceleration below 1389.44 would revise this forecast. A reversal from the 1396.08-1389.44 area would otherwise trigger the finalising 5th wave advance in the weeks ahead, with original upside targets to 1502.70-15.71.
(Become an EW-Compass report subscriber and see how this pattern continues to develop and what’s coming up in the larger time-series).