DAX Big Picture April 2012

The current MAP WAVE COUNT @ 15Apr12  H-5 of 4H-1 of D4 of W-2 of M-2

Unlike the US indices there is no apparent weekly pivot 1 to 4 that fits my MAP wave rules, and so it is highly likely that the DAX made monthly pivot -2 in April 2011 which would put us in monthly -3 and I do not expect his high to be seen again for a long time.

The detail count of the 2009 low is shown below, showing we are near the monthly uptrend  on the assumption that the 2011 top is a monthly top (currently on latest monthly MLU).

It is however highly likely that the DAX has actually put in W-2 with the ALTERNATIVE MAP WAVE COUNT @ 15Apr12 of H-5 of 4H-1 of D-1 of W-3 of M-3. The reason that this is a likely count is that the possible pivot W-2 was made at near fork W345 WL3, which is where often a trend ends, as well a being beyond the current weekly MLU, as well as the current monthly MLU.

This is relatively unimportant as to trade on a weekly , or even daily pivot scale makes no sense unless your are investing on a multi year time scale!

The daily uptrend (bold purple fork) is still intact.

Where to from here? I would expect either 4H-1 to be made on the 4HMLL (lower blue bold rail)later this week. however it looks like there is an extension in H-5 so I would certainly expect 4H-1 no lower than the daily ML as shown below into the end of the month or early in May.

Ideas, Suggestions, Comments?

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s