I believe that the probabilities now lie with global markets having put in long term tops . My Wave count on the S&P500 has it fullfilling 5 waves down (or very close to) since its recent all time highs - once the 5 waves completes, we will get a 3 wave counter rally back up to roughly 1500 - 1520 on the cash market. I believe this will start to happen early next week (hopefully). After these levels are reached, if the market starts to downturn again, I believe we are in for a sustained bear trend in global markets over at least a couple of years in length. This may (????) signify that my alternate count on AIM may infact be correct . ie. a top is in place at 42.5c - I'm hoping not , but stay alert to this possibility. One Step at a time as always though - look for 27.5 /28c to hold on Monday then hopefully the commencement of the S&P's counter rally on Monday night to take the pressure off and give time to reassess the trend . I'm very wary of all this though based on the shorter term and longer term EW counts. Please Don't dismiss the alternate count .
cheers ECN.
AIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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