The week before last I posted my monthly chart Elliott Wave count for the ASX 200. Today I also drill down to weekly and daily chart counts which show that the big picture pattern counts as complete at smaller degree of trend, indicating that the market likely topped in July, and has begun a 50% decline. All charts include after hours trade.
Monthly chart first. The most common projection is for wave C to equal wave A in length, which would take the ASX 200 toward 2500 in the next year or two.
Weekly chart zooms in on the count for the monthly chart's small c wave up which began in mid 2011, showing that five waves up can be counted as complete at the July peak.
Daily chart zooms in further, on the weekly chart's final wave 5 up, which has formed an ending diagonal and counts as complete at the July peak.