The Dow just made a smaller version of the pattern it was already in to complete the formation. I found it interesting, so here it is:
I think the pattern is more evident here on the Dow Jones, when compared to SPX. The next leg down (when measured from peak to baseline) has us right at "bear market" territory. From the current high (open/close) a close beneath 21293.368 puts us below the 20% threshold, and while we may dip to this area, I'm not so certain we will close a session beneath this...
The DJI looks to have completed an Elliot 5 Wave Extension. This is typically followed by a loss of equal magnitude to the gain of Wave 1.
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... Best regards :) Aaron
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... Best regards :) Aaron
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron