• 21 hours Airlines Could Recover, But Crew Remain Elusive
  • 21 hours Meet The Man Behind The World's Most Exciting Oil Play
  • 2 days Crypto-Mining Immigration Could Be The Start Of A New Trend
  • 4 days Hawkish Fed Sends Gold Prices Crashing
  • 5 days Bezos Is Heading To Space This Sunday
  • 8 days El Salvador’s Surprise Bitcoin Move
  • 11 days Markets Unfazed As Inflation Hits 13-Year High
  • 12 days How the Token Economy is Disrupting Financial Markets
  • 14 days FBI Investigating 100 Types Of Ransomware Attacks
  • 16 days Fed Ends Corporate Credit Emergency Lending Program
  • 18 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 19 days The Real Reason Your 401k Has Been Lagging
  • 20 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 22 days The Market Is Ripe For Another GameStop Saga
  • 25 days Senate Grills Big Banks Over Pandemic Opportunism
  • 26 days Cannabis Has A Major Cash Problem
  • 27 days Ransomware Netted Criminals $350M In 2020 Alone
  • 28 days Russia Is Taking On Google
  • 29 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 30 days Ohio Residents Brave Vaccine for Chance To Win $1M
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Ed Carlson

Ed Carlson

Ed Carlson, author of George Lindsay and the Art of Technical Analysis, and his new book, George Lindsay's An Aid to Timing is an independent…

Contact Author

  1. Home
  2. Markets
  3. Other

Fasten your Seatbelts

Last week we asked the question 'Is the Dow headed into the final top at point 23 - or is it engaged in the typical 3-5 wave correction seen most of the time at this point in the pattern?' With last week's new high in the Dow it seems safe to assume that the 3-5 wave correction found between points 21 and 23 in every Three Peaks/Domed House pattern since 1901 (save 4 instances) has been skipped for a 5th time.

The Dow could still pull back into wave 3 and possibly even waves 4 and 5 before its final ascent into point 23 but with Monday's high inside the first of two time periods (22-34 days and 41-49 days) typically counted between points 21 and 23, it seems we are headed into the final top.

Another point of confusion is whether we should count Lindsay's "7mo and 10days" from the January low or the February low. The former low counts to a final high near August 30 (which fits the 41-49 day time period). The latter low counts to a final high near September 22 (which does not; but is still a date of interest as it is the date of the Autumnal Equinox).

If the count from the January low is not 7 months and 10 days (223 days), rather it terminates after 216 days (as it did at the high in May 2015), that count targets August 23 which fits the 22-34 day period.

Remember, it is also possible that the final top was already seen at last week's high!

Dow Jones Industrial Average Chart
Larger Image

 


Get your copy of the August Lindsay Report at Seattle Technical Advisors.com

 

Back to homepage

Leave a comment

Leave a comment