Mar 31, 2016


The pullback from last week was only corrective two waves lower. I was waiting for confirmation if a bigger pullback has begun... no confirmation we have another impulse higher which is not finished.
No change for the intermediate term - bullish ew patterns,cycles,market breadth, TomDemark sequential.... but expecting a bigger pullback after this wave is finished and 40 day cycle low.

Clear corrective move lower and impulse higher. Short term wave 4 is running lower to support previous high, to fill the gap and 38,2% Fibo retracement.
The next resistance level is 2080-2090 and one missing wave higher to exactly this levels is expected.

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