This is a BIG counter wave -- Capitamall Trust

I have decided to write about Capitamall Trust because firstly it is not in my profile. It is also because I have been looking at my profile over and over again, every single night and practically not much changes as I am glancing at weekly chart. I also need to practice my charting with different charts.

When I opened Capitamall Trust, first question came into my mind, " how is it that the bottom looks so strange?" On a second glance, it dawn on me with a few facts:

1)  The movement from 2010 till 2013 is in fact a top formation;
2)  This chart never did recover from the shot down in 2008;
3)  This chart is completing B wave and going down with a C;

Now how did I come to such conclusion? First of all, it does not comes with a possibility of any bottom formation at all, if there is, it happened during second 1/2 of 2008 till mid of 2009.  The pattern after that is more suitable as a top formation such as a double top or head and shoulders.

While the down trend from 2007 till 2009 consist of an abc pattern, it nevetheless can be consider as a major A.This makes the behavior from 2009 till 2013 more logical, since it is also an abc wave pattern. C will then have to be a 5-wave pattern.

As for the never did recover part, need I say more? It has never gone back to its previous glory even when STI is close to meeting the previous peak. In fact, putting a Gann Grid retracement, it barely touched 61.8% retracement line before receeding down ward.

From the looks of it, C is quite steep, I think the move may be swift.