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