Preferred count: getting closer to the top of Cycle degree D ; DAX is in minute wave x of minor wave z ending the intermediate wave (y) of primary wave [Y] .
Alternate count: the new bull market is already started, we are in the final stage of leading diagonal Alt:(1) (for long-term scenario, see weekly chart on March 09, 2013 post)
The fear for Cyprus's bailout and the achievement of the long-term up-trendline seems to have stopped the descent; perhaps GOLD have reached the bottom of intermediate (w) and a corrective upward move is starting.
OIL remain in a controversial scenario (very difficult to trade...)
The alternate count prevails; the top is minor wave 3 and the down move is the
first wave w of wave 4 .
The new alternate scenario; wave Alt:c is ended and so also intermediate wave Alt:(w).
The preferred scenario (very bullish) was correct: this market has moved upward in wave [v] of 1 of 1 of (1)
Alternate scenario; the intermediate triangle pattern is still underway.
Preferred scenario is confired; wave 4 of minute degree is ending with the completion of [c] wave of a zig-zag pattern, so the downward move will continue.
Preferred scenario; we could be in the wave 2 of wave 5 of minor degree of intermediate wave (3) .
Alternate scenario (neutral/bearish); the wave 5 is already finished and so still the intermediate wave (3) ; now we are in the wave a/w of w. (4)
Have a great weekend ;-)