Elliott Wave 5.0 "Reboot"

Wednesday, December 16, 2015

Mini DJIA Intraday Rally Review: Still In A Correction?



Up, down and sideways the only three directions that any chart can physically go. We had a wild run up and then a small expanded flat, and now a decline. We should see one more blast up before another bigger correction takes place which would also be the last bigger correction as we may yet  see record new highs.  I don't have bullish sentiment for the DJIA (Only Nasdaq, and the SP500) and traders' commitments do not offer any real help at this time as their readings are not extreme enough. 

What a messy decline, we did have as wave after wave overlapped killing any attempt at counting out impulse waves. 

Is Yellen going to pull the rate trigger? This hype could all be their standard election preparations so they can drop the rates next year during the election.