This update should be read in conjunction with AEX Elliott Wave Musings which was revised on 26 December, 2016.
It presents the tentative Elliott Wave count as I imagine it.
SuperCycle (V) - Cycle I - Primary 5 - Intermediate 4 down. The hypothetical time horizon on the remainder of Primary 5 and thus Cycle I is Intermediate 4 down and 5 up (January 2018 - December 2020). Ideally Intermediate 4 down targets 515 or about and a potential targetzone on this projection for Intermediate 5 up and the whole of Cycle I might be 650-675.
Only when we go above 572,90 we will get an indication that Intermediate 5 up might be in play.
For a graphical display look at the AEX Monthly Charts (AEX Monthly Chart I and AEX Monthly Chart II).
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.