Elliott Wave 5.0 "Reboot"

Tuesday, February 16, 2016

DJIA Mini Intraday Review

I have far too many conflicting wave counts,  with the DJIA not confirming the SP500 latest record low.  If I call it a double bottom or the same as the SP500 then I would still be looking for an impulse to complete.  Since the January low last month any impulse waves are none existent, so I must still look at this as a bearish rally in the short term. 

With a potential small 4th wave still in progress, one more leg is possible this week.  The DJIA just hit another bottom just below 16,000 so nothing is off the table as the DJIA diagonal wave pattern could be still alive.