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Thursday, December 4, 2014

Elliott Wave Analysis of DAX

The move from 9159 appears to be in a 5th wave, a closer look reveals the prior price action is a sideways messy pattern, i strongly suspect its a triangle, I initially thought the pattern has ended at the point where I marked wave b, but its since morphed into a larger triangle.

A spike to new high is all that is needed, although I suspect this will attempt to make a new all time highs.

A spike higher, then a strong reversal back under 9950 is what i am looking for.