S&P and DAX March 13.

 

S&P march 13

DAX March 13

Top one is the and the one below the . Clearly both show a 5 wave decline so anyone who has the time should be a buyer but for a perfectionist the question, again, is are we there yet. In the S&P, see red lines, there could have been a triangle  and then, and then only, we could have finished the whole process. Looking at the the triangle would be so distorted that I very much doubt that there ever was one, which leaves us with an incomplete 5th wave. When will we know? If S&P goes through 800 we are probable in a fair sized rally, should we break 666 we will get to about 630 and THEN start our rally. This applies to the index as a whole, not sub groups.