Elliott Wave 5.0 "Reboot"

Tuesday, February 23, 2016

Mini DJIA Intraday Review: Another Correction Completed?



Unless this is a lead in to a bigger correction, we have what looks like a simple zigzag in the finishing stages.  We only have about 2600 or so points to go, before we break into a new world record high. That is nothing in the big scope of things as it took us about 10 or so days to travel around 1150 points already. At this rate it would only take another month or so to break 18,000+ 

Just like we have seen it before this rally could keep wandering higher with no great plunge until it breaks the top. Of course, unless it creates yet another major zigzag and then we would have a bearish correction that would drag out over time.   We can only deal with that if and when it happens as just a week or so ago everyone was betting to the downside in stocks. 

In response to a potential rally gold has already taken a hit and oil could be making a bottom as well.  

There will be no updates on Wednesday except maybe late in the day.