Last week's close well below the complex top's second measured target suggests Thailand's main stock market index is poised to retest the third one at 1,295 points. No doubt it is very disappointing for many, but we are worried there might be more bear market moves. The Ichimoku cloud and its moving averages have clearly been in a negative mode for the past three months. In terms of Elliott wave counts, this year's fall is the first in what is likely to be a series of at least three waves. Monthly charts have a potential massive double top at 1,600 points since the highs this year and in 2013, with a minimum drop to 1,100 points and possibly 950, based on its height.
