Wave (vii) that moved from 12,542 level in November 2012 to last Friday closing price of 13,981 level, it has gained about 11.4% over a 3 months period. The next wave (viii) correction is expected to end within 2 months. The wave (ix) run-up should take another 3 months to complete. If major wave (5) has only 9 waves, it is projected to end around July to be followed by a higher degree correction.
If the debt bubbles of the US, Europe and Japan can be prolonged by more money printing by the central banks, the up-trend since March 2009 can just continue. Under such scenario, the higher degree correction in July or August can be the major wave (6) pullback instead of the fearful mega wave (2) correction.
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