• 7 hours The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 11 hours Priceless Van Gogh "Spring Garden" Painting Stolen
  • 13 hours Oil Falls To $20 For First Time In Nearly Two Decades
  • 15 hours COVID-19 Could Be The End Of U.S. Coal
  • 1 day How Much Does Your Social Security Number Cost? $4 On The Dark Web
  • 3 days Silver Stocks Have Been Decimated In The Coronavirus Sell-Off
  • 3 days How Blockchain Tech Could Make Mergers And Acquisitions More Efficient
  • 4 days America’s Shortage Of This Metal Keeps Trump Up At Night
  • 4 days Bidet Bonanza: Defying The Toilet Paper Shortage
  • 5 days U.S. Auto Sales Fall By 75%
  • 5 days Violating Quarantine? Big Brother Is Watching
  • 6 days Does Gold Still Have Some Room To Run?
  • 6 days Major Acquisition Gives The World’s First Green Ride-Share Another Edge
  • 6 days U.S. Pushes For Digital Currency For Immediate Stimulus
  • 7 days The Impossible Challenges Created By Growing Population
  • 7 days Gold Skyrockets After Fed Pledges "Unlimited" Cash To Boost Economy
  • 7 days World’s Richest Lose $1 Trillion In Stock Market Rout
  • 8 days Gas Stations Shut Down In Venezuela As Coronavirus Crisis Intensifies
  • 8 days The Best And Worse Case Scenario For The U.S. Stock Market
  • 8 days 3 Industries Soaring During The Coronavirus Crisis
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Dow Jones Industrials Elliott Wave Count

Topping in wave (5)

30 min

Dow Jones Industrial Average 30-Minute Chart
Larger Image


4 Hours

Dow Jones Industrial Average 4-Hour Chart
Larger Image


Daily

Dow Jones Industrial Average Daily Chart
Larger Image

My Bias: Long towards 20,500
Wave Structure: Impulsive 5 wave structure, possibly topping in an all time high.
Short term wave count: Upside from 17,066 wave 4 blue
Long term wave count: Topping in wave (5)
Important risk events: USD: FOMC Member Fischer Speaks.

As I expected last night, the DOW is now rallying in wave '5' of 'v' of (iii),
This leg of the larger rally is coming to a close soon, we could see a cooling off of prices in wave (iv) grey next week.
I expect wave (iv) to be a short affair, this would counteract the deep retracement we saw in wave (ii) grey.

The upper target for wave (iii) to complete is still at 20520 where wave (iii) will reach a Fibonacci 162% of wave (i) grey.

Since calling the low in wave 'ii' of (i) back on the 23rd of January, the DOW has rallied 530 points,
Not a bad haul if you managed to ride this wave! I will count that as another win for Elliott wave analysis!

For next week I will expect the completion of wave (iii) and a possible sideways correction for wave (iv) grey.

 

Back to homepage

Leave a comment

Leave a comment