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djia elliot charts

  1. madmacs

    25,374 Posts.
    There is no sure-fire way of using the time factor by itself in forecasting markets. Elliott used to say that the time factor often conformed to the pattern, for instance with reference to trend channels, and therein lies its primary significance. Yet, time relationships and durations themselves frequently express fibonacci measurements. They serve to give the analyst some added perspective by indicating possible reversal dates, especially if they intersect in confluence with price targets and wave counts.

    DJIA weekly Gann chart.........

    DJIA The Chart this week highlights the running correction to the upside which was evidenced this week. Standard trend lines are also marked up, as well as the looming time zone of 49 days which takes us to 28th Nov. the next time zone is 78 days which terminates on 27th Dec. There are a number of time factors which work out for around the Christmas period, with the strongest appearing on Christmas eve (???). There is also the Summer/Winter Solstice on the 21st December.

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