IMUGENE CHART. TA only, page-7495

Haven’t had much to say because I’ve been waiting for a clear pattern to develop. I am adding a chart of the ASX 300 which IMU has been correlating with ,especially since it was added to the index,but IMU on a relative basis shows way more strength.
i am extremely bullish on the US and Asx 300 indexes and feel that they will provide an extra tailwind to IMU.
The next chart is the daily of IMU. As you can see we did a clear 5 wave move up and corrected approx 50% into a wave 4 of lesser degree, blue lines. I have it marked as a double zig zag in Elliott terms.
You can get a better view of this in the 60 minute chart here.


it appears that we probably made a good low off the .39 level rallied up to the .45 area retracing back down to the buy point of .325 - .33 area which I bought tonight at .33 to add to my position.
I have good bullish divergence at these lows and we also have a neckline at approx .45 . A small inverse head and shoulders on the 60 minute.
If I am correct we should get a nice tail wind coming from the equity indexes and also the technical condition Of IMU.. Remember fundamentals rule but the technicals allow you to time into your positions.