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If you are to look at the behaviour of the current run up, we can see that the first and third waves are pretty much the same in terms of length.  Therefore, the next upward waves (after the current correction) would be quite strong and should be extended. 

If we are to follow the strict interpretation on Elliott wave targets,  this next run up (lasting 1-2 years) would peak at around 4,800-5,300.

This scenario is consistent with a possible “decoupling of the US markets” scenario happening by the second quarter onwards.
But then please note that this scenario would only take into effect if and when the market breaks the resistance at 3,750-3,800. The break of this downtrend line will confirm that the uptrend is now starting.

As such, it is important for investors to be mindful of the big picture as it will eventually dominate  the landscape over the long haul. Investors with a long term view should take advantage of the current weakness to position and enter the market.

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