I am not sure the DAX rally is complete, because the rally did not reach the upper line of the ending diagonal. However, it is not a requirement, sometimes it can end below the line. The rally could be complete because wave E is in three waves and wave E ended above the top of …
The S&P is rebounding after declining in five waves [i,ii,iii,iv,v]. I think this decline is wave (i) of a larger five-wavedecline [(i),(ii),(iii),(iv),(v)]. The trend has turned down and the bounce is wave (ii) expected to end near 4580. Thenext move is wave (iii) down, the target is 4300
The FTSE is rebounding following an oversold Top 20 Differential, thatis the normal pattern, when the top 20 Differential is oversold we get a short term bounce. The same thing occurswith an oversold 34-day BTI but with this indicator the rebound lasts longer, like several weeks. The 34-day BTI isnow at 67, the overbought level …
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