The correction for UOL which started in January 2018 seems to be ended.
The above chart is UOL price performance since 1999. An Elliott Wave Primary degree with wave (1) peak in 2007, the 2008 subprime GFC leads its to fall into wave (2) hitting the bottom in 2009 and from then on till January 2018 is wave (3). A sub-level Intermediate degree for wave (3) can be seen nicely completed (1-2-3-4-5). The correction since January 2018 is wave (4). To ensure the Elliott Wave is valid, rules and guidelines are checked.
1. Wave (1) length = 4.959, wave (3) length = 8.065 and wave (3) : wave (1) = 1.626 very close to the 1.618 Fibonacci Ratio
2. The Intermediate degree wave 1-2-3-4-5 for wave (3) does not have any of the 3 Elliott Wave rules violation hence making wave …