06 October 2016 at 19:37 GMT
EU50.I (STOXX50E) still has the September peak intact and it is important! We have a 360 degree price alignment from FEB 11 lows which indicates a possibly complete cycle higher. We have a 180 degree time alignment from the cycle April 2015 - February 2016 and February 16 to September 2016. The last cycle higher, if we disregard the Brexit chock event, from June 16 into the September 8 peak running 84 days thus wave A and wave B align with wave C. Also the cycle off the Feb 11 lows align 360 degrees with the time spent on the last move lower in the previous cycle off the Dec 1 high into the Feb 11 lows...the bulls are facing a large obstacle here and a reversal and continuation of the bear market appears likely. Cycles says we should be looking for a complete move on day 46, 77, 116, 163 and so on...this whole scenario is invalidated upon a daily close above 3 109.