In our previous blog we showed the path of minor corrective wave and that is exactly how market moved. Minuttee wave c is now 76.4% of wave a
We are expecting market to turn down from here soon
This wave down will be much steeper and faster than anyone can anticipate
A move below 16300 will confirm the negativity and our preferred scenario
As we showed cycle displacement previously, market actually bottomed very near to that. Cycle length is reduced lately.
Any movement up in the form of 5 wave structure will negate this scenario and we have to adopt alternate view that the larger 5th wave is still ongoing.
Wait and watch for 16300 levels to be taken out!
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