A S/H/S top has now been activated and all that's needed is a break below 1,272.85 to eliminate that last piece of doubt, that we are headed lower towards 1,148.84, which is the S/H/S target, from where we can expect the next correction.
Ideally the S/H/S neckline now protects the upside for the break below 1,272.85, but only a break above 1,344.07 invalidates the S/H/S top calling for a move higher to 1,375.33 and likely slightly higher, but I still don't see a break above 1,433.73, which will be a game changer.
I'm a keen Elliott wave follower. I do use, what you might call, standard technical analysis too, but my main focus is on the Elliott Wave Principel.
I use it professionaly as well as in my private affairs. To give you an example I sold my house in late 2005 and are currently renting a flat, not expecting to reenter the property market before 2012-2013.
I'm very much into long term seasonal cycles and demography too.
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You are always wellcome to pop me a qustion or comment on my work and I will try to answer your question, but might not allways have the time to do everything.
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