I started to look at the Netherlands stock market with the EWN (ETF) but when I saw this ZMA index, its pattern was completely different. In the long run, ZMA should act just like it did in 2003 and then decline again like it did in 2008.
For over 18 years the ZMA index has produced nothing but bear market rallies. Of course, the present top needs to crash or decline to help confirm my suspicions. I can draw you all sorts of subjective trend lines or wedges if you like, but it would still take a few years for a new bearish decline to show itself.
It looks like a triangle could be in progress, and we would need the “E” wave to show itself. The 2000 peak would be the Cycle degree peak but I used my idealized commodities charts to count this out. After the Cycle degree 4th wave has arrived then it will be important to know that we will have at least two options to choose from.
From the 2000 peak to the 2009 bottom solar cycle #23 was in progress, after which solar cycle #23 handed control over to solar cycle #24. I just shake my head when people think that the sun has no bearing on climate change and life on earth.
I have no Gold/ZMA ratio database set up but I took two readings as a starter. March 11 gave us a high reading of 2.41:1 while the 2009 low reading was about 4.73:1.
In general visitors from the Netherlands are about 8-9th on the ranking list.
I do not have the time to keep the ZMA wave count maintained as it can take years to fine tune any wave count.