Elliott Wave 5.0 "Reboot"

Friday, March 11, 2016

Mini DJIA Intraday Rocket Ride Review! To The Dark Side Of The Moon And beyond!

Don't you just love those traders, they are surely an energetic bunch, as the majority saw exactly the same thing at the same time as to cause them to jump on this bandwagon.  We can't even call it a bandwagon as I am sure they were riding the SpaceX Super Heavy rocket.

The short end of the story is, that I think a correction is due and that there will only be one set of the impulse that I may be able to count out.  Since that ugly correction for the last 8-10 days looks like a flat with an ugly "B" wave for its core, we may get another bearish phase from another wave 4th correction.  Since we just finished a bunch of corrective waves, this market should eventually still push past my "B" wave top. 

As the DJIA corrects we should see gold rally as this seems to be the on again and off again, theme in the last few months. At this posting the DJIA is still pushing higher.