Dow Jones Industrial Average -- Elliott Wave update for week ending 1/23/2015
invite response
2015 Jan 25, 2:54pm 1,356 views 3 comments
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hanera
2015 Jan 25, 5:32pm
Confident enough to put your reputation at stake?
3-3-3 wave structure for wave (ii)? Shouldn't it be 3-3-5?
darlag
2015 Jan 26, 8:47am
Confident enough to put your reputation at stake?
3-3-3 wave structure for wave (ii)? Shouldn't it be 3-3-5?
You have to 'have' a reputation before you can put it at stake.
I see this formation often enough now at lesser degrees to have some confidence in it. True, it is not strick EW. I could have made some other convoluted 1-2, 1-2 thing or hacked a questionable five, but I prefer the simple solution.
Could I be wrong? Sure. But the winds aren't in favor of a strong move up. We'll know more tomorrow.
darlag
2015 Jan 27, 6:41pm
Today was a fairly good indication that the downtrend will continue as projected. Minuette wave (iii) should pick up speed as the week progresses.
Last week’s alternate count was apparently the correct count as the Dow Jones Industrial Average squeaked higher on the week, completing an almost three week long upward flat correction and setting the stage for the next leg down which should begin early this coming week.
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-wave-update-for-week-ending-1232015/