AEX Short Term Update

Frequent readers know what’s going on. Please read the previous articles to see what’s going on here.

140506 AEX

 

In order for the longer term ‘working model’ to stay valid, the AEX needs to decline very soon. First target is around 370 where there is some support (and a Jupiter line). Wave 3 should eventually go to the 330 area.

Note that wave 2 was 2.5 points short of a Jupiter line. Reaching the Jupiter line would have created a new high in 2014, which was ‘not allowed’, so the long term Fibonacci sequence is still valid. I think this was particularly significant.

A first hint that the AEX is on track will be breaking the April 25th low of 391.83 and the April 14th low of 391.29.