Elliott Wave 5.0 "Reboot"

Monday, January 4, 2016

DJIA Intraday Crash Review: Lights Are Still On But Nobody's Home!

The DJIA has gone a bit further with its crash this morning, and it also left a gap in its wake, but it was a small one. If this move trashes this wave count, then the same thing can happen again, except it would be at a new record low or below the August 2015 lows.  If this decline is going to reverse, then it should do it sooner than later. If it does recover and soar that could also mean that gold will crash in reaction to a possible return of stock mania, or should I say mania to find the last open chair in the game of musical chairs. 

The pattern above does not necessarily fit a triangle as that will work equally well as a single "ABC" but with an ending diagonal "C" wave.