For those whom frequent my blog, thank you. And for those whom are new, you might need to refer to my previous entries to understand. Since my analysis on DJI, I have mentioned some of the possible turning point for it...at 12400-500 region and now the 12870 and 12970 region. not very spot on but is realy somewhere there which you can take up short position at, i bet those who shorted at 12970 were happy now. Looking at the wave count I am looking at a formation of a wave 5 which in this case might see it reaching 12120 (1.618 ext of wave 4) as its eventual target . But of coz nothing is for sure. To play safe, if you were already in short you might wan to pick up money along the way (at major support or fibo ratios as drawn here) and at the same time add positions at each pull back up since overall direction is a downward one. Happy trading!
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