With a small break above the recent high today, indicates that a different wave pattern may be unfolding for the short term count. This Double three combination correction is still in play and a primary count, but this leg up may be wave 'c' of the triangle.
The rationale behind this is that the structure that commenced on the 25th Nov 2011 (end of wave 'b' in the previous chart) to now - is a flat and considered wave 'c'. The last leg up is in 5 waves, leading to a 3-3-5 structure ending at around 4400.
The short term view is for more sideways action on the XAO, heading down to 4200 to complete wave 'd'.
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