In the previous long term XFJ update the index appeared to be correcting as a large Triangle for wave B circle. So far, the wave B triangle is continuing to unfold as highlighted almost a year ago with four legs of the triangle completed. The last, wave 'e' is now underway and needs to push higher to the 4000 levels or slightly higher. Once completed, the next major leg down will be underway and take the index down to unprecedented levels.
Perhaps this trader understands what is really going on as opposed to the mainstream media who pick out of a hat the suggestions on why the markets moved the way they did. Notice the high use of the default verb "hope" in many financial headlines as the international markets continue to remain volatile and "unpredictable".