02 May 2007
STI
breakout of a minor symmetrical triangle correcting formation today, signaling completion of wave 4 of a 5 impulsive up waves starting from 2931 on 05 Mar 07.
finally, terminal stage of the bull market started, target 3567 in short term.
after that, a major correction in form of a symmetrical triangle correcting formation lasting 1 year or so similar to that from 08 Mar 2002 to 14 Mar 2003 will initiate and will cause huge damages to bulls (drop about 34%).
breakout of a minor symmetrical triangle correcting formation today, signaling completion of wave 4 of a 5 impulsive up waves starting from 2931 on 05 Mar 07.
finally, terminal stage of the bull market started, target 3567 in short term.
after that, a major correction in form of a symmetrical triangle correcting formation lasting 1 year or so similar to that from 08 Mar 2002 to 14 Mar 2003 will initiate and will cause huge damages to bulls (drop about 34%).
Labels: Elliot Wave Analysis
