In the last review (293) I said "a move beyond upper end of the channel (daily) will confirm end of wave 'c', thereby opening wave 'd' on the upside;on the weekly charts a move beyond 329 is required for confirmation of reversal of the trend; on the monthly charts there is a 'possibility' of double bottom provided we should not see a down move, below the October lows, from here".
This we have seen happening (anticipated recovery) in the last 2 weeks. See the inlaid daily chart; the wave 'c' ended exactly there(at the last review date) & as anticipated the index broken the falling parallel channel, thereby resuming wave 'd'. Now, expect continuation in wave 'd' & then swift down move (last) "e", may be by year end.
On the weekly chart (first two trading sessions of this week) the bulls swung back and attempting an upward break of the falling parallel channel (blue), i.e. indicating an reversal in the trend. Still on a safer side, we will wait till break of '329' for a confirmation.
In short, as anticipated, the "world markets" are holding October cycle lows and the bulls are making 'careful' attempts to regain the control, once again, at least for the next few weeks/months. On the downside, the possibility of fresh 'slide' is low, however, retesting of October low on some of the world indices can't be ruled out, but this slide will be an opportunity to 'buy' rather than 'sell'.
This we have seen happening (anticipated recovery) in the last 2 weeks. See the inlaid daily chart; the wave 'c' ended exactly there(at the last review date) & as anticipated the index broken the falling parallel channel, thereby resuming wave 'd'. Now, expect continuation in wave 'd' & then swift down move (last) "e", may be by year end.
On the weekly chart (first two trading sessions of this week) the bulls swung back and attempting an upward break of the falling parallel channel (blue), i.e. indicating an reversal in the trend. Still on a safer side, we will wait till break of '329' for a confirmation.
In short, as anticipated, the "world markets" are holding October cycle lows and the bulls are making 'careful' attempts to regain the control, once again, at least for the next few weeks/months. On the downside, the possibility of fresh 'slide' is low, however, retesting of October low on some of the world indices can't be ruled out, but this slide will be an opportunity to 'buy' rather than 'sell'.
