Jul 9, 2014


The European index look ugly CAC40 has 5 wave lower, DAX30 this is definitely not a dip. I think they have started a move lower of a bigger degree. I expect soon a bounce higher there.
The US indexes - lower as expected but much deeper and two minor support levels have been broken. A bounce expected soon too. But be careful if you see another low low we will have an impulse(the white scenario) in this case expect lower high. For the yellow scenario the index should start moving higher and not look back leaving the bears with corrective move lower.

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