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Summary

  • Long Term Outlook: Up
  • Medium Term Outlook: Sideways to Up
  • Short Term Outlook: Sideways to Down
  • Long Term Outlook Revision Point: Break below 4782.25
  • Potential Long Term Targets: 15,740 and above
  • Current Short Term Position: Flat
  • Preferred Strategy: Wait for situation to clarify.

With the immediate upside limited to around the 10,180 to 10,300, the March 25, ’10 high is at or close to the completion of wave 5.iii.5. If this is correct, we should be at the verge of another sell off close to the March 4, ’10 low to complete wave iv.5. If, however, the price continues to slide down to close below the 9,306 mark, then we would, most probably, have already completed wave v.5 at the last top.

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