SUMMARY
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SAP is still in the midst of a wave 3 up! The white wave 3 is about half complete and after white wave 4 correction, wave 5 should bring in much higher highs. What fundamental news or event might be attributed to this? I don't know, but news or events shall arrive to justify the forecast and never the reverse.
The subwaves of white wave 3 are shown in blue. Pretty much blue wave 3 has likely topped and blue wave 4 is in progress as shown by red ABC. Note also how price is traveling within a well defined channel and that is a strong attribute of an impulse.
Closeup of the correction shows that red A and B are completed. A subdivides in fives and the B has the requisite abc three subwaves. Red C subwaves are always in five as shown by the white labels. The C down will seem scary to many but to those who are aware of the longer term count and trend, it could represent a buying opporrtunity.
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