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Bank of America ADR Index

5 Aug 2014 ‚óŹ 04:25 AM

World equities are at an important point after last weeks sell off in US joined the ongoing down trend in Europe. The Bank of America ADR index is a world index reflecting the trend in world stocks as a whole. The index after a 5 wave decline in 2008 has been moving up and slowly achieved 66% of that decline recently. The pattern appears to be a 3 wave rise in A-B-C, wave B was a clear triangle and wave C now appers like a ending diagonal whose legs appear complete and will confirm that wave e ended below 151.2 [current 155].

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