I was looking DAX pattern and it really starts to looking as ZigZag pattern which might be bullish for another sesson also.
However, the real engine is in here – commodites goes where stocks goes and vica verca.
I think it is done, as alternate it placed W3 bottom where small W5 would be still missing but lower chart degrees for it are allready impulsive which is good sign.
The actual price might differ a bit depending which month contract one is actually using but structure is the same ie. contracting triangle W4 and Fifth impulse for it possible done. At least W3 of W5 should be there leading for reasonable IV upwave.
Some Oil stocks still sold hard today like KOG and few other´s with 6-% speed.
All in all, estimated 92 $ for it was what came where it ends as first time.
I am trading it, in fact much more than those stock index futures because I love the pattern itself – which SPX and DAX don´t have to offer for me. It nails it for me which are alternates and where they are. It is also relative large pattern as it is 4 hour chart which makes it less noisy to trace smaller degrees for it.
If this rally tomorrow also, so will do stocks and vica verca – too much conflicts are not placed IF products takes strong waves, with weaker waves there can be allways the correlation differences bet ween the assetts classes.
Without clear hourly chart W3 / W5 divergence however, keep in mind that W5 is not necessary finished yet but W3 should, it also gives IV wave have some size.
Edit: Attatched IV alternate for it also.
