ADR Index - Pull the Trigger
The ADR index remains below its April highs with lower tops from there. I marked that as wave 4. Recently we have seen attempts to break out of the falling channel as the US indices hit new all time highs. But this index has not confirmed that move. A push above the channel lines has occurred but we need to watch if the lower tops formation holds out. Till then my preferred count is of wave 2 of 5 up and wave 3 of 5 waiting to get started.