Elliott Wave 5.0 "Reboot"

Wednesday, April 13, 2016

Mini DJIA Intraday Review: Another New High!

The DJIA has just broken to a newer high which killed my "B" wave top. So far this complex rally can only fit into a diagonal, but with a wave 3-4-5 still to complete.   The SP500 has not cleared to newer highs so it is lagging behind a bit right now. 

Wave 4 could make a sudden drop and then roar right back as we finish the 5th diagonal wave. I have to stress that I am looking at this entire structure as a diagonal, and tried to get in all the "ABC1" type labels. I don't always do that as many times there is not enough room to get them in. 

The entire structure is also in Micro degree and lower with the lowest showing being in Miniscule degree.  In other words I'm scraping the bottom of the barrel in degrees except for my custom 3 smaller degrees.