Below is my revised wave count for the DAX following the methodology of MAP Waves (links below for new users) and MAP Analysis. Pivots are now derived from the use of fixed rules to classify pivots. I am still writing it up.
Fractal waves is basically waves within waves within waves. The secret is being able to use a fixed methodology to identify them and in the correct combinations be able to use them predicatively.
This is as far as I have data and have based the top of the 300ish year cycle as 2007 as now a second retest has failed. Below is a detailed MAP Wave count from Q-2 to M-2, the top of the 21 September 2012.
So where to from here – down unless we stop the stupidity of allowing our governments to continue chases capital out and finish this socialistic experiment of punishing success. The voters still have not grasped the fact that the problem is out of control governments who will do what ever is in their power to stay in power at the expense of the voter. How can it be right that 99% of the population bail out 1%. The bankers have privatised the profits and when they get into trouble claim they are too big to fail! BANKERS DO NOT HAVE THE AUTHORITY TO PRINT MONEY. So if now the ECB has that authority just give the money directly to governments and save the interest payments made to the banks – that way the budget deficits will be slashed in one fowl swoop. Oh forgot the bankers and governments are in bed together!
Weekly Outlook D-1 Target
UPDATE 25 NOVEMBER 2012
It has been rather long since I updated the DAX!
I have added count validation points where in accordance with MAP WAVE Analysis rules where I go neutral and re analyse before entering a further position if prices exceed these parameters. You may find it of use in establishing your trading rules!
In addition I have started to highlight areas where the next targets are where possible due to numerous requests. PLEASE BEAR IN MIND THESE ARE CONSTANTLY REVISED AS SUBWAVES DEVELOP AND ARE IDEAL WAVE TARGETS BASED ON LATEST PIVOTS IDENTIFIED.
The DAX has continued to show strength and has now for the third time managed to get over the bold orange MLU shown above. You can see how it struggled to get through and how easily it broke that support. If it breaks it for a fourth time it is going to prove very strong resistance in the future.
Also below you can see the the latest weekly MLL was broken and prices managed to get back above this support line.
In more detail
I am expecting a top in this week, D-4 as shown before prices start to make new lows in December.