STOXX S&P 50 largest European index, March 4


The made a high of nearly 4600 so the “box”should be in the 2300- 1760 range and presently it is at 1864. The RSI is  below 30% and there are valid wave counts that can be made to suggest a complete sequence is done. I do not particularly like the last leg, but I do like the two different channels that can be used and indicate that if a new low were to occur it would probable not be outside the 100 point range that separate us from a perfect Fibo 61.8 %. All of this suggest that the EWN might be a buy in the next few days if not immediately. The upside is considerable, about 1000 points or roughly 50%.