I'd liketostartwiththe S and P 500 herefirstbecauseasweknow, it's kindofcentraltoourmostmarkets.
Sowiththisparticularmarkethere, what I knowisthatthemovedownthroughhereeyescorrective.
Sothatmeanswe'lleitherbeupforwayonebackforwave, too, ondhe, thenupforwaythreeHerewth e othermoveforthis.
Isthatbecausethismovieisdowninthreewaves?
Wecouldactuallyit's took.
Thatmakesthewholethingcorrected.
Butwecouldendupwiththetrianglepatternwherewehaven't a wavehereand a and A B and a C waveherereplicatingthispatternhere, butslightlysmalleronthenanotherthreewavesoverhere.
Yes.
Sobasicallythetrianglepatent.
Socomingthroughhere.
Soin a and A B and C and a d andthen a, B, C, D and E wavehere, sir, a trianglepatternoccurringacrosshim.
Butthemainpointis, thisisthatthisis a llbullishonewayoranother.
Sothereason I'm sayingthisforisbecausethreeAustralianmarketifwecouldmovetothatfor a momenthere.
So, um, withoutbanks, if I canjustgointothosefor a secondandcomebacktothisSowhat I wanttodofirstisjustgoto I'lljustgotoAnn's adversenowwithAmessaidhere, weknowthatWe'reat a mediumlevelhere, 25.
Sothat's always a nice a nicenumbertowworkwitheitherway.
Butin a nutshell, Thereasonofchoiceinthismarkethereforisbecausethemoveupthroughhere, weknowthatthe U.
S.
Marketsofbullishinthisparticularinstance.
So I wasassuming, orthinkingorwaitingforevidencetoseeinthiscase.
Itcouldcertainlycomedownandtakethelowsouthere, butotherwisewouldneedtolookatthe 24 25 areahere, 61.8% becausethiscouldbeallowedtocorrectionoven, a waveofbewaveddowntohereandtheseawavecomingbackupintothisspacehere.
I don't thinkthat's goingtobethecase.
I thinkthatthiswouldjustsimplybeing a and A B intosee, andthenwe'lltakethislowoutthroughhim.
Um, thisparticularpatternthroughhereif I lookatthiswith, umwithWestpachere, wecanseethat a coupleofthingshere, wecanseethatthemoveuphereisoneandtwohere.
Butthistimeit's a littlebitdifferentbecausethistimeit's beingconductedbylawyers S O they'renotinterestedin, youknow, insupportingsituationissuchunlessthey'rebeingpaidoff, whoknows?
Youknow, it's justbutyeah, soButwhatthisistellingmenowisit's tellingmethatthisisbearishatthispointandalsotoif I couldjustbringcalmbankuphere.
Uh, theThepointhereisthatitcouldhavebeanthatthiswaswayonedownhereandthen a wavingtobewavingtheseawavetothispointhereandthenwouldmovedownforoneandbacktoondownthegame.
Assoonaswemovepastthatlittlepointherethatsolidifiedthat, wewouldbein a bullishmarket.
Ifthisdoesmovedown, then I'llmovedowninfivewavessowecancount.
Thatiswayonelittlemovebackfor a backfootforwavetohere.
Andofcourse, umuh, yes.
I mean, I pulloutthesix.
Wecouldhave a lookatthe 61.8% butit's nottheendandbeendinthisparticularcaseherebecausebecauseit's toomuchinheresoitcouldendupanyway, sowecouldhave a little A B and C hereforthisspace.
I'm lookingpossiblypossiblyatthisbeing a lowinplacehere.
I knowthatthiswholemoveupheredoesn't countverywellas a bullishpattern.
ButweknowIndiais a is a bullishcountryiftheygettheirtheirthreenegativesinplace, ifmoneycandothat, sogetridofsomeofthebureaucracywhichhe's beingdoingondhethecorruption.