Well some interesting moves around the globe, one of the ugliest...

Well some interesting moves around the globe, one of the ugliest markets has been the XJO

Initially i had a top painted in Oct 2013, however to say the decline is ugly is an understatement, (where i labelled wave 1) then the next bounce is clearly an ugly bounce so thats ok for wave 2, but the latest series of waves are ugly and for the bearish idea to hold firm, it needs a strong decline now to convince me that its wave 3 of [1]

As there is a possible alt idea that could actually suggest a move to 5470-5500

A break under 5028 negates that alt bullish idea, staying under 5200 keeps this idea alive

Bears want to see weak bounces hold under 5200 a large decline will confirm its in wave 3 of [1]

I am still looking at the 3000 area before this is finished but thats a while away