Wednesday, 7 August 2013

SPI 200, heading South

Hi Traders,

The SPI 200 (now around 5000) displays a breakout in the 4-hour chart to start a new downtrend.

TARGETS

likely: area 4597-4561
possible: 4455 and 4320
maybe: area 4173-4133

ELLIOTT WAVES

The SPI 200 is performing a large a-b-c (a Zig-Zag) and it started now "wave c" heading to the area 4473-4433 or lower.

TIMING

There's a possible Time Turning Point (TTP) around Sept 9-22, 2013 (weekly chart) and another around Apr 26, 2014 (monthly chart). Theoretically, the SPI 200 could reach a low around Sept 9-22 (weekly chart) and perform a new high around Apr 26. The other TTP in the daily chart (vertical red lines) may refer to a relative low or top for August 24-25, 2013




monthly chart - click to enlarge




 weekly chart - click to enlarge




daily chart - click to enlarge




wave oscillator applied to the daily chart - click to enlarge




4-hour chart - click to enlarge




 wave oscillator applied to the 4-hour chart - click to enlarge




1-hour chart - click to enlarge




 wave oscillator applied to the 1-hour chart - click to enlarge


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