Source: thewavetrading: DAX: Follow Up of the Short Term EWP | The wave trading

This is just a brief analysis.

I am going to use the same assumption discussed this weekend for the SPX long-term count (Triple Zig Zag).

Therefore from the June 5 low price should be unfolding the wave (Z=ABC); the wave (A) was established at the September 21 high; the wave (B) was completed at the November 16 low.

The current up leg (From the November 16 low) should belong to the assumed wave (C=Z)

The assumed wave (C) has an equality extension target at 9050.63

As a reminder a wave (C) has to unfold an impulsive sequence or an Ending Diagonal.

It is unquestionable that the internal structure of the current up leg is not impulsive; therefore if this segment belongs to a wave (C) it MUST unfold an Ending Diagonal. (Now in the wave I)

In my opinion this corrective up leg can be counted as a Double Zig Zag (We are now in the wave A of the second Zig Zag). Therefore this pattern in order to be considered complete still needs a wave (B) pullback followed by the last wave (C) up

The equality extension target for the wave (Y) is at 8549.25

Lets now zoom in the thrust out of the potential triangle wave (X), which is the assumed wave (A); (With 4 consecutive eod prints above the upper BB it is obvious that this up leg is overstretched)

If the gap at 7939.77 is closed then I would consider that the wave (A) was established at last Friday´s hod and a wave (B) pullback is underway.

The wave (B) should bottom in the range 7867-7809