BSE Sensex Elliott Wave Short Term Count

Even though this is a short term count, the implications are long term, since this is a short term rally in a downward market.
My last count on October 31st was able to catch a 2000+ pt move in the Sensex. A full break up of this count is below in the first chart.

The second chart is the retracement stage of this move. The retracement count is picture perfect A-B-C-X-A-B-C which i think is almost complete with only a 3rd, 4th and 5th wave of the C pending, and I think will end approximately with the sensex @ 16200. From there we have 2 options

1.) We rapidly break the lows on the 23rd of November @ 15478

2.) The retracement is not complete. The caveat here is that retracements are harder to count and the current move that i have counted as A-B-C-X-A-B-C is part of a much bigger retracement. So that means we get a short term bottom @15478 ish  and then we might go above 16200.

Either way there is a short term top in the 16200 area which can become either a longterm top or a short term top.
Posted on Nov 28th at 2:20pm IST with Sensex@ 16085.90 
As usual realtime updates in the comments section.

The Bull Fighter

Like anyone else I am often asked as what I do for a living. My response?? "Bull Fighter".
The media constantly throws bullshit at people and it seems like my job (for those who seek to employ me) is to constantly fight this bullshit and try to provide an unbiased opinion on the state of the financial markets. The internet provides us with an easy opportunity to go back and check who said what, how it turned out and most importantly what their motive was when they said it. After some time bullshit becomes easier to spot.


In its purest form: My correspondence with a Bloomberg Editor. The same thing happens repeatedly, but i don't get paid to deal with it.

 In its most dangerous form: Famous Permabulls with an Agenda and market moving reputations.
Article: http://www.bloomberg.com/news/2011-04-17/dubai-stocks-offer-value-as-index-in-bull-market-templeton-s-mobius-says.html#
My comment on Facebook at the time.

 The DFM chart with April 18th marked is approximately 22% lower today and breaking historic lows!

Hopefully when the market gets bullish I will feel it coming and start fighting the Bearish Bullshit.

Hoping to stay the Bull*&%# Fighter.

BSE Sensex Fractal

A fractal is a pattern that repeats parts of its self within its self. I was introduced to the concept during my study of Elliott Wave.
There is a whole lot of computer generated fractals that you can google, which i find great for desktop backgrounds.
The reason for this post is that the intraday chart of the Sensex (top) looks very similar to the daily charts of the Sensex (bottom).