Mentorship

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ADR Index

16 Aug 2016 ‚óŹ 04:00 AM

The DAX and ADR index broke out of falling trendlines that I put out last week. These trendlines were for the entire 2 year decline so is the rise the start of a new move up. That is the big question. My wave count for these charts remains a larger A-B-C, and wave C is usually 5 waves. We are in wave V of C and it appears to have subdivided and completed a 5 wave move at yesterdays high. So if this count is valid for the bearish case then the next move down should start right away. Given the completion of A-B-C it should mean resumption of a larger move lower. If the dip is small or short lived and only a retracement then it would be suspect of a larger move higher going on.

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