Elliott Wave 5.0 "Reboot"

Monday, March 7, 2016

Mini-DJIA Intraday New Peak Breakout!



It's the end of the line or should I saw this is about as far as I'm willing to push this so called "C" wave bull market, as otherwise I have to go back to looking for the impulse waves. My trend line across the tops is not that normal for an impulse so this keeps a potential "C" wave alive. 

I have changed my degree level and bumped them up one degree level as this so called bear market is taking longer to play out. 

I have already completely reworked my entire 1929--2011 wave count as I may be abandoning the big triangle pattern.  The DJIA has gone too far from it's 2009 to be a big bear market rally as it would be the historic mother of all bear market rallies. The SP MidCap 400 does not support the triangle, and even Warren Buffets Berkshire Hathaway Inc.,  does not support it. BRK.A has one of the greatest looking impulse waves I have counted out, and he owns many of the DOW companies. 

So if the DOW is doomed to fail big time, then BRK.A will fail big time as well. Oh, yeah, we can't forget about Apple stock imploding as well. 

As I post the DJIA has turned south so it will be important to see how far it goes.