Elliott Wave 5.0 "Reboot"

Tuesday, March 15, 2016

Mini DJIA Intraday Correction Review



This Mini DJIA chart pushed higher, but I think there may be an expanded pattern in there, as the secondary top is now a double top pattern. The range could take us all the way down to the 16,800 price level, but it may not do this all in one shot. Even with an expanded flat there can be a leading 3 then the counter rally three waves, and then 5 down to finish the job.  (3-3-5)

Either way I don't think this party is over, but a correction sure can happen within the next 5-8 days. 
We are 8 trading days away from a full moon and full moons have been known to turn very bullish. 

After this correction is done then there should be one more leg up and when that starts to die out we have to watch out for a potential much bigger correction.  I am sure the patterns will go all choppy with inverted patterns and it will frustrate the hell out of me, before it implodes.  

 All those choppy patterns will be sending us a clear warning that the shit is about to hit the fan, but don't panic until we actually see these wild patterns forming. When they start you would swear the Werewolf has started to change. One thing is for sure we have run into those types of waves many times before, and hopefully we are not asleep at the switch when they do arrive.  

I can't really say don't panic as fear and panic happen all the time on smaller scales as well.  The trader that is packing 5-10 contracts will have a heart attack when the DOW dips like it has done before.