ADR Index

The Bank New York ADR index - has moved higher in wave C which is a 5 wave advance and we are in wave v of 5 waiting for a trend reversal. It has touched the reverse falling channel of the lows and is now a Zig-Zag, or 5-3-5, and in alternation to wave 2. At this point it is picture perfect for the next wave down to start unless something changes.