Looks like another 5 waves lower to me and the whole move from the top like a-b-c....
I do not know what kind of pattern this is... I know it is a very ugly thing:)
- very bearish - some ugly 1-2 1-2 1-2.... I doubt it
- "less bearish" (red) - some ugly diagonal, we have now 5 waves lower. Retracement to the resistance level expected.
- bullish(green) - ugly double zig-zag the W-X-Y on the chart.
Waiting to see what will happen in the next few days...
Thanks for your analysis Krasi. Any thoughts on EEM and FXI? What kind of bounce do you see for those two? Thanks again.
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