Needs a confirmation please

[Jwallace]

Hello everybody...


I read an article in news paper that Kuwait Stock Market is about to make a big impact after a sharp correction and i would like to share with you guys and get your advice from that attached Weighted Index chart with elliot wave marks if the market made a bottom and if the correction has ended or its about to end soon ?? your help is so appreciated

 

[tsptalk]

Welcome Jwallace! I'm not an elliot wave expert but the chart looks promising. A nice double bottom, a higher high. I would say buying with a stop below the prior low would be wise, but that is actually a long way down. A move above the "b" would confirm a long term buy signal.