http://www.mclarenreport.net.au/arti...tau/Page1.html
This also had a three thrust pattern and it is unusual not to exhaust this index. But rather than show another leg there maybe a large distribution pattern develop. The previous correction was 97 points and should be broken on this leg. But once this stabilizes there could be a significant rally into the end of July. The index showed a volume spike and wide daily range that closed on the low so a counter trend of a few days is getting close but
it looks like it must test the February high which is also ¼ of the range of the last two legs up is reasonable. But we will see a distribution pattern of some sort .
The markets are telling us Inflation is here.