MR DU FOR IX0001 FORCASTTSEC CAPITALIZATION WEIGHTED STOCK INDEXTWSE_DLY:IX0001curtischangTWCurtis, here's the English translation: 🌊 Complete Elliott Wave Structure Breakdown for Taiwan Stock Market (Figure 3-167) Starting Point: Beginning of the 8th Major Stock Market Cycle Key LevelDate (ROC Calendar)Description3,955.43 (Cycle Low)Nov 21, 2008 (ROC 97)Previous cycle trough; declined 5,904 points / -59.88%22,975.71 (Opening)Jan 2, 2025 (ROC 114)Observation starting point for this cycle Wave I (Initial Advance) Start: 17,306.97 (Apr 9, 2025 — tariff-shock low) High: 28,594.61 (Nov 4, 2025) Gain: +11,787.19 points (+68.16%) Wave II (Corrective Wave) Multiple minor pullbacks within the correction zone: 25,469.04 (Sep 26, 2025): down 924.99 pts / -3.50% 26,395.98 (Nov 21, 2025): down 2,158.63 pts / -7.56% 27,350.77 (Dec 28, 2025): down 1,217.25 pts / -4.26% Although consolidation lasted roughly 5 months, the magnitude remained moderate. Wave III (Main Advance) — Current Position MilestoneDateLevelCumulative GainWave III startApr 9, 202517,306.97—Wave I highNov 4, 202528,594.61+65.22%Wave II highJan 29, 202632,090.07+85.4%Wave III peakFeb 26, 202635,579.34+105.58%Pullback lowMar 9, 202631,529.36Down 4,049.98 pts / -11.38%V-shaped new highApr 16, 202637,135.55+114.57%Closing priceApr 16, 202637,132.02YTD +28.02% Wave III has now lasted 13 months, consistent with Teacher Du's original forecast of "April 2025 to April 2026, totaling 13 months." 📐 Fibonacci Target Price Calculations Teacher Du provided two methods for calculating target levels: 1.618× target zone: 11,787 × 1.618 + 17,096 ≈ 36,378 points (already reached during the initial advance) 2.0× target zone: 11,787 × 2.0 + 17,306 ≈ 40,880 points (maximum extension target for the main advance) Assessment: The main advance could end around 36,378 (already surpassed). If it extends further, the upper limit is approximately 40,880. At 37,135, the index has already exceeded the 1.618× target, meaning the main advance may conclude at any time, transitioning into the Wave IV correction. Wave IV (Corrective Phase) — Approaching Pattern: A 5-month sideways a-b-c-x-a-b-c-x box-range consolidation ("correction through time rather than price") Estimated low: approximately 31,000 points (-16.5% from 37,135) Expected bottom: before the October 2026 local elections Strategic implication: Do not chase rallies in Q2/Q3 2026; wait patiently for the pullback. Wave V (Final Advance) — Launching October 2026 Rally starting point: approximately 31,000 points Price target: 43,000 points by May 2027 Volume: combined TWSE + OTC turnover expected to expand to NT$2.4 trillion TSMC target price: NT$2,400