I MODIFY THE LONG TERM COUNT ===> TRIPLE ZIG ZAG
In my last update, on February 18, I discussed several options:
http://www.thewavetrading.com/2013/02/18/dax-index-follow-up-of-the-long-term-ewp/
My preferred option rested in an Ending Diagonal idea, which is no longer valid.
My new preferred count is based on an extended wave (A) from the June 2012 low.
We can make the case that this up leg is unfolding an 11-wave structure. If this count is correct from the April 19 low price has to unfold the last Zig Zag, in which case now we are in the late stages of the wave (A). Once the wave (A) is in place it will be followed by a wave (B) pullback that should bottom in the range of the March peak (8074.47) and an open gap (7873.50). The last wave (Z) up will complete the EWP.
If the above scenario pans out then my preferred count from the 2009 low will be a Triple Zig Zag.
Probably the current assumed wave (A) will be completed by July/August; while the wave (B) pullback should be done before next Christmas and the final wave (Z) could top during the second quarter of 2014.
