This update should be read in conjunction with AEX Elliott Wave Musings which was revised on 16 January, 2016.
It presents the tentative Elliott Wave count as I imagine it.
SuperCycle (V) - Cycle I - Primary 4 - Intermediate (A-B-C-D?-E? triangle/wedge?) - Minor 5.
A potential target for the current Intermediate (B) wave up is the 450-475 range.
I will keep the Cycle I count in vogue as long as we do not go below the 375-400 range.
If we however breach the 375-400 range to the downside in a material way, i.e. beyond 366 on a weekly close, I would deem us to be in Cycle II of SuperCycle (V). In that scenario the most likely target for the AEX woud be 315.
For a graphical display look at the AEX Monthly Chart Linear and AEX Daily Chart.
Don't hang your hat on this kind of analysis. It will be wrong more often than not. It is only a human and therefore feeble attempt to create some order out of seemingly random market movements.
I don't trade or invest according to these views. For that purpose I only use the Trend Trade & Investment Principle which is explained at the bottom of this blog. Please also read the disclaimer there.