S&P/ASX 200 Breakout, Wave 3 rallying up to 8400 and then 11600

ASX 200 has finally broken out of Wave 2 correction, Wave 3 shall rally up to 8400, which is 1.618 extension of Wave 1.

If ASX 200 behaves similarly to what happened after 1987, this Wave 3 will go up to 1.618 extension and drop from there temporarily, and then rally all the way up to at least 2.618 extension of Wave 1, which is 11600.