This analysis of the hourly JSE chart for the Top 40 index sees the completion of Minor wave 3. Of interest is the progressive extensions of the 5th waves.
Minuette (v) is 1.62 of Minuette (i)
Minute [v] is 2.0 of Minute [i]
Minor wave 2 was a zigzag (no overlaps), Minor wave 4 is underway and expected to be a Fib ratio of Minor 2 for price range. The lower boundary of the channel beckons, but the range limit for wave 4 is the top of wave 1.
This progress through the first Intermediate wave of Primary wave [3] suggests that this bull cycle will run for many years, most probably more than 10 to go before the top of Primary wave [5] appears. The journey will no doubt be quite bumpy.
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