tse sept24

To elaborate on the previous blog;  the big pause in Citybank may have been a 2 year triangle, in the case of the it may be a simple A-B-C as in the blue or red labelling. The May, June and July drop was most certainly not a text book 5-wave and could have been a C wave in its entirety or a whole correction. If that were the case then we should now be looking at a wedge up, specifically we are in wave 4 of the wedge. Under this scenario a new high might be possible above the old one of 12321 but probable no higher than 12500.

I do not give much credit to this scenario but mention it only to point out that even if a new high is made, the next stop is not necessarily the moon. This scenario, by the way, does not fit the US markets and many others.