AEX short term update

The AEX is completing a large 3-3-5 Flat pattern according to the Elliott wave principle that started at the low in Feb ’09.

A large Fibonacci time ratio indicates a potential turn date at May 10th (in calendar days). The same ratio can be found in the Nasdaq 100. See below.

Zooming in, wave C of the large Flat appears to be unfolding as an ending diagonal, as described earlier. Wave d of this structure is a ending diagonal, also predicted earlier, and the index is now completing sub wave 5. This will end the pattern. For the price target earlier I projected the 360-365 range. If the labeling of the final wave e is correct then the AEX should not exceed 366.66 (dotted line) as wave 3 cannot be the shortest.

The Nasdaq 100 index is now in a Fibonacci time frame between May 7th and May 11th. See chart.

All this coincides with a Solar eclipse on May 9 (May 10 in Europe).