the wave in progress could be a sideways such as a triangle or a three a/w-b/x-c/y-d/x-e/z of second wave (x)
the first alternate (1°Alt:) considers the top like the Cycle Top D .
the second alternate (2°Alt:) corresponds to the alternative and super bullish long-term scenario shown in the weekly chart; we would be in Alt:(2) of Alt:I
this is the only stock market where my preferred long-term Outlook is bearish (not very convinced, but bearish).
It could already have reached the Cycle Top D , with a Primary wave [C] = Fibonacci's extension 0.618 of wave [A] from [B]
First alternate; we are in irregular Alt:(2) so the Top is still far.
Preferred scenario; still in uptrend of Primary degree; we should be in wave c of wave (4) intermediate;
This is one of the weaker stock market in Eurozone.
Preferred scenario: it seems that an intermediate low, labeled wave (x) , has occured.
Now we should be in wave a of intermediate wave (y) of upward wave [C]/[Y] of Primary degree.
From several days I have a lot of long positions on my domestic stock market (see http://ChartPatternsTraders.blogspot.it ; "PORTAFOGLIO" page)
Preferred count: we are always in wave 4 minor of (c) intermediate;
Alternate count: we are in a new bearish wave of Primary degree.