The last post on July 14th called for a top at 18,824. That target was missed by 24 pts.
Although the market did fall, it did not completely go to hell, instead it traced out another extended X wave followed by another A-B-C which ends the counter trend rally, which the chart below demonstrates.
For the ending of C i had a few targets in mind.Typical A=C (18986)
76.4% retracement (18941.65)
Yesterdays top of 18932.27 is below these levels by just a few points and the 5 wave structure on a 1 minute chart of the market from the top into the close seems to indicate that the top is finally in.
Translation for dummies:
1. Top is in market may open at 18900 but should sell off immediately today.
2. By the end of the week we should be way below 18660 and possibly even below 18400.
3. Any move above 19000 will void the current count and i will post the next alternative.
Thank you Kalpesh Maniar for pimping your scanty paid website on my blog. It does not even have anything about you. So why would anyone pay a ghost for his analysis. Thanks to your Accurate Market forecasting, you must be a rich man, so your work should be free......
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