Scenery Near Mummelsee, Black Forest, Germany
My previous wave count for the Industrial Index is as shown below, anticipating a wave C drop to December 2008's low of 1994 lever or even lower at 1800 to complete its major wave II correction.
However, after Japan's central bank announcement on Wednesday (Sept 19) of its additional 10 trillion yen to purchase Government bonds and bills and last week announcement by the U.S. Federal Reserve of its QE3 program of a $40 billion per month of debts purchasing. It is possible that the Industrial Index may take a different form as shown below.
The December 2008's low is wave 6 and the index is forming sub-wave iii of wave 7.
Dutaland
Dutaland has been under strong accumulation since its January 2009's low.
A possible wave count for Dutaland is as shown. By June 2012, it has completed its 36 months of side-way consolidation (wave 2) with strong accumulation of its stocks. Currently it is forming sub-wave ii of its wave 3. The next run-up will be the sub-wave iii of wave 3, it should be a dynamic run-up with high volume.
Sweet apples, Mt Pleasent Farmhouse, Cotswolds, England.
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