thirsty thursday, page-114

mongombolo

If the DOW has broken down what can we say about the XAO after today's little effort? [LOL]

We've now have 4 consecutive lower closes - with a fifth not experienced since the worst of the Big Bear last year.

Based on the March 10, 2009 swing low & the May 11 swing high [851 points] the XAO has already retraced 231 points or 27%!

Daily Elliott Waves are bullish but project a Wave 4 pull back to between 3516 & 3616 by June 2nd [that's another 94 to 104 points south] before a Wave 5 rally to about 4200 points by June 24.

4YIO - NFA