23 Dec 13

I had a confusion in the last week, so just stayed away until an understandable structure is formed.

Now, in the beginning of this week, I have two views. Both have a range bound movement this week probably 6100-6400.

1:

The whole configuration beginning from 5119 could be an impulsive wave. So far if the points marked on chart is correct then it looks like it is going to be a terminal impulse.

If 'c' of '4' is completed then it is possible that '5' has already began and would make a top, if not, '4' would grow further down and complete this week.
2:

The 'C' that completed at 6332 could be 'A' of a larger A-B-C. Then the larger 'B' followed and we are at 'C' of 'B'.

In this view, it is possible that this 'C' has ended at 6130 and the larger 'C' has already began. Another possibility is that 'C' has not completed yet and so could grow further downside and make a bottom this week.