5 waves down tilts the probabilities in favour of further weakness to come in the ALSI .A furious short covering rally on the 1st day of the month is wave 2 which may be complete already .There is an open gap and the 61.8 % retracement level at around 36800 if there is further upside .Once complete the next wave down should take the ALSI considerably lower than 34470 low registered earlier in the week.
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