This is the March 2016 contract month, which better reflects in what is happening with the Forex "US Wall St 30" units. The cash charts do not move during the night, but the specific months do.
I am sure I am too early in calling a potential bottom as the DJIA is still very high, but has now broken my ending diagonal wave count. Trash one and we get another wave pattern we can track.
As I mentioned, I will keep any two or even three trend lines in parallel to each other and not force my trend lines into something that is very obvious. During the crash of 2008 my two parallel trend lines clearly did not hold which is a clue that an impulse was not in progress. I am sure you have seen every other wave analyst force his trend lines into an impulse, which the markets proved completely wrong in less than a year. If we extended the bottom trend line in 2008, then that should have pointed to the maximum of a wave two
top in Primary degree.
All higher degree wave counting bears, desperately need a 5 wave to run in Primary degree, just to confirm one single part of SC or GSC degree wave counts. Yet in over 15 years not a single set of 5 waves down in Primary degree has ever materialized. From my Cycle degree perspective SC and GSC degree wave counts are the mythical dragons the majority of wave counters are trying to slay.
As long as they never go back and review 1929 and all the way up, we are pretty well assured that they will keep looking for those fire breathing dragons.