Elliott Wave 5.0 "Reboot"

Tuesday, March 8, 2016

DJIA Cash Contract Elliott Wave Count Review

This is not the Mini but the full blown DOW index so there will be differences between the two different asset classes. This is also the chart I can reach back to 1929 anytime I need to and I do that on a regular basis.  I have pushed up my wave degrees by one level and that forced me to go back to 1929 as all it takes is moving one peak and a new wave count emerges.  Even though, has expanded flats can go far above the previous peaks I think this has been pushed to the extreme already.  We are very close to being in a 6 year bear market rally, according to all the GSC degree wave counters. 

In stocks I have never seen this anywhere in past history, Sure, there were wild moves in the past, but this park has to completely get retraced if my triangle or the GSC and SC degree wave counters have their way. 

The S&P 400, BRK.A all suggest pretty clean impulse waves so this could make the DOW in a  diagonal 5th wave just as easily.  In short, we are not even at a wave 1 in Minor degree, if this all turns out true. 

For now I am running this in Intermediate degree, and any big extreme price target would be DOW 20,000. I am sure that may not get hit as markets act funny that way. It may stop at 19,999 and crash early! :)   Technically, I would only need the DJIA to pass 18,300+ and that would give it another new record high. By all means many other wave counts can be at play and I can never hope to catch them all in time on the Intraday scale.