It's not a bull nor a bear but a Wolfe Wave!

Let's do a Wolfe Wave analysis on 3 indices - FTSE, S&P500 and BSE. This exercise will be split across 2 parts - the first part will cover the Wolfe Wave analysis in recent history. The second part will be applied on the possible scenarios that we can expect in the coming few weeks.

The Wolfe Wave:
In technical analysis, it is a naturally occurring trading pattern present in all financial markets. The pattern is composed of five waves showing supply and demand and a fight towards an equilibrium price. These patterns can develop over short- and long-term time frames such as minutes or weeks and are used to predict where a price is heading and when it will get there.

With that in mind, let's apply the Wolfe Wave to 3 Indices.

FTSE:



BSE:



S&P500: