INDA – iShares MSCI India ETF

Last updated March 22, 2019

Not too much to add to my earlier update in that “The whole advance off the low made in 2013 into late-2017 counts best as 3 larger waves, with good internal Fib-extensions. My preferred view is that Cycle-A has topped and Cycle-B is underway. Cycle-B will subdivide in Primary-A, which IMHO recently bottomed, and in Primary-B, which is currently underway. Question is if all of B has already topped, or if it will subdivide higher.” Well a bit higher it went, but price stalled at the 1.236x Fib-extension, but the advance off the late-October low looks and counts best as 3 waves up, not 5. Only a further drop, which holds above 33.50 and then a rally to a new uptrend high will make an impulse up. Can of course always become an overlapping diagonal, but neither can be known before hand. For now, the evidence at hand is three waves up with c=1.236x a. That is bearish until proven otherwise.