Last time I did an analysis of this index was on 24/2/2015. There is a slight change in the possible wave counts since then. The long term possible wave counts are shown in the weekly chart below.
Tuesday 29 December 2015
Monday 7 December 2015
GDX
This is in continuation of an earlier post on GDX published here on (24/7/2015). It is possible that the downward trend is complete with a fifth wave failure in wave (v) of 5. However there also exists a bearish possibility that prices are consolidating in a triangle in wave (iv) position and once the triangle is complete, prices may go down one more time to complete wave 5. Caution is required close to the upper of the two trend lines shown below in red.
Wednesday 2 December 2015
SSEC
This is in continuation of the post on 30/9/2015. There it was anticipated that SSEC has likely started an uptrend since the bottom made on 26th September and is likely to move up. That has what has happened.
Going forward the probable Elliott wave counts are shown on the chart below. It appears like wave (iv) is complete and the prices are moving up in wave (v) to complete wave 1 or A. Subsequently the prices to resume the uptrend once again after a correction for wave 2 or wave B.
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