My Java, not the coffe but the computer programme is still not working ok and as a result I cannot (yet) make annotations within the chart itself which would make things more readable. But this is a work in progress! Both the TSE S&P and, for that matter , many others appear to be in their 4th waves which are frequently triangles, particularly if the second wave was a zig-zag and alternation should be anticipated. Triangles should be a-b-c-d-e affaires and each leg should be a 3-wave structure (as opposed to 5) and more often than not the alternatively relate to each other by a factor of 62%. So a is from8537 to 10199, b from there to the low of 7647, c the most complex back up to 9505 and most recently d down to todays low of 8650 or so. Probable it is not yet over, a little closer to 8000 would look better, then back up in e o roughly 9000. Then 5 starts down 2000 or so points! This wave could extend as neither of the others, that is 1 or 3 seem to have done so. Once the 5 subwaves of 5 of C are done this will be a screaming buy for a minimum of 30% up over 3/4 months. Again the HXU would be a good instrument for this.
TSE
TSE Jan 7
   This could well be the end of wave c of the triangle (a-b-c-d-e) leaving the d and e still to go. Alternatively it is a minor wave 4 of c in an a-a-c counter trend. Eitherway no action should be taken at this point as it is wiser to see if the d and e will actually materialize over next few days.
First Analysis TSE and S&P
The best count for both the TSE and S&P is that waves 1 and 2 were complete during the summer months followed by waves 1-2-3-4 and 5 of 3 with a low in late Nov or more likely the low just before that at a slightly higher level. From there an irregular triangle is forming as wave 4. This satisfies the rule of alternation aswell as the normal occurance of triangles breaking the trend channel. Triangles are a-b-c-d-e patterns within which the c -wave is usually the most complex. Time wise this pattern is about 6 weeks or so old and it could terminate in about 2 weeks, coinciding nicely with Obama’s inauguration. Then wave 5 of C (or just wave 1 of C) will take us down about 1500 to 2000 points, perhaps a little closer to the 61.8% point (sofar we did only 49%) and a little closer to the initial target of the 2003 lows. Then a very tradeable rally should unfold (good for buying HXU at about 7 or so)


