Using the TSX , here are the possibilities discussed earlier. First is a series of 1-2’s of different degrees( in purple). This is in line with a very bearish outlook as the bottom is very far down. Then there is the rather awkward possibility of this being a wave 4 (in black), one more high would be needed around 16000 or so this summer and only then will the real bear start. To me, with oil already in the dumps and the banks obviously overbought it is not entirely clear what would bring this about. Then the third possibility is that this is a triangle B-wave (in red). The problem with that is that the downside would be limited to about 11000. Time will tell.