Elliott Wave 5.0 "Reboot"

Monday, April 18, 2016

Mini DJIA Intraday Bull Market Review.



The Mini DJIA crashed down, creating a huge gap at the same time, which now already has been closed off. Just goes to show how violent and fast things can change in the intraday charts. 

Not much to show on Mondays, but I am sure the action will pick up later in the week.  I have to assume that another small correction is in progress and then still another leg up will happen.  As far as I can see we are still about 250-300 points away from a record top. This can also be a false top if we were to adjust for inflation. I have counted many adjust for inflation charts and they are all different depending on what year of US dollar we use. Besides that we would never see when stock mania does kick in like it did in 1996 or recently in 2011. 

The entire wave counting community is basically trying to confirm SC and GSC degree wave counts, but have never succeeded, in the last 15 years. 

In the meantime, stocks can push higher as gold declines which tells us that stock mania is still present.