The Bearish Outlook On The Fourth Wave Developing :
On this alternate count in the conceptual frame of weekly chart, the Index is tracing out likely a leading diagonal as Minor wave A of Intermediate wave (4) underway. These Minor wave counts interpret the fourth wave developing as a “simple structure” of the zigzag corrections.
Note : Quite often, when the second wave of an impulsive sequence is in a complex formation, fourth wave will stretch out into a more simple structure to achieve a type of alternation.
A close of weekly bar below the 94.765, would suggest to shift to this “bearish outlook” as the main alternate count.