Elliott Wave 5.0 "Reboot"

Thursday, March 24, 2016

DJIA Intraday Top And Decline Review




We could be at the first stage of this wave count failing and as we are not out of the woods just yet, if this market still has a bigger impulse in mind. My three trend lines are all parallel to the top line  and all can produce a support area. If the markets keep crashing through these trend lines, then I have a reasonable idea that this bear decline has much more to go. 

The small intraday corrections are much harder to anticipate, but bigger ones have more bearish mood associated with them.   The wave patterns are much more different with this DJIA than with the Mini DJIA. 

In the end the bullish run I'm still calling it a diagonal for now, but a another corrective bottom could surprise us. 



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