Elliott Wave 5.0 "Reboot"

Monday, March 21, 2016

Mini DJIA Intraday Bull Market Correction Review




The DJIA did push a bit higher, but I can get it into a diagonal 5th wave.  My wave degree is coming from the bottom of the barrel as miniscule is as low as I can go before I use my custom lower set.

At a minimum the DJIA should retrace the entire diagonal 5th wave and more if it needs it. Either way the pattern that does get formed will determine if another leg up is in the future. I like to think so.  In a recent post I talked about the oil price and recessions and it is obvious that the markets can't be pointing up in the worst part of a recession.

This means we still have time to take advantage of a bullish correction, but it may also be one of the last ones for some time.  If we form an ugly triangle in the next few weeks or so, then this is also a big warning that the market is going to force a bigger degree change on us if we like it or not. 

Gold should find some strength while the DJIA swings up and down and around like a drunken sailor.

 I may not have time to update very much until later tonight or tomorrow. As I post the markets still want to push higher. 

I'm going to announce my Twitter contact, so if you want to follow "BB" just join me at,  
  
                                                       BB@EWfivepointzero.

I'm not very active on it at this time, but I will post general stuff  for fun and some other retweets and blog related things as well. 





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