We have reached the point where global markets are looking far more concerning than otherwise in light of the Coronavirus. So am going over many charts today and here is Italy MIB index after a long time. The last time I thought it was in wave B and B was a triangle and prices did not fall very far. But a slightly changed wave count marks wave B as A-B-C where C is a wedge and we just failed a breakout in wave e of C in the wedge after the virus broke out in Italy. So if this continues and plays out at large wave C long term bear market in Italy starts. Lets see if this turns out to be true but it is a live risk now that something that most cannot predict a virus pricks these market bubbles.