What I m not sure is if the bottom end 98 is really a bottom wave 1 because at the moment this is the longest (historical) chart I have. Anyway there are some interesting things as :
a) it seems a pullback on the top 97 ;
b) it is at 50% retr. wave 3 ;
c) correction wave (a) seems an impulsive wave (1-2-3-4-5) with 5 as extension ;
if it was that, then it would say we saw an important bottom at the end of March, but I need some more informations
NZ ALL index (above) is NZAX All Index : Small to medium sized companies
it will be important to find out which kind of shares will be the best performance in the future ....
My personal view is NZ50 has completed the first wave A (w-x-y) and now is in minor C of B corrective wave till up 3860 (50% retr.); the only doubt I have is the traditonal saySELL IN MAY AND GO AWAY
but I heard some friends in the Usa who told me ....... money's coming from the Tax, so .....
let's follow the market !
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