ADR Index

ADR Index - is a good world index, and good to monitor because over the last 18 months many markets diverged in the near term but overall the trend was eventually lower. So this chart shows that starting somewhere in September 2014 it has fallen in 5 waves. But because these 5 waves are overlapping I am marking it as a leading diagonal. This is wave 1/A down and wave 2/B up is due before we can start another leg lower. This can take time and can retrace 38.2% or up to best case the wave 4 area, which is in the 130-135 area.