the dji has turned...

  1. 436 Posts.
    Hi All,

    For anyone interested, I reckon the American indices have turned down. In all four - the DJI, SPX, NDX and NASDAQ - I count a clear 5-wave impulse down from recent highs.

    This means, at the very least, that one more 5-wave impulse down should follow IF this is just one more correction in the uptrend. But I don't think it IS just a correction - the DJI has clearly broken to the downside of its upward channel, so I think this is finally the start of the next big bear leg down.

    As always, caution should be exercised and any position abandoned if not confirmed by subsequent market action.

    One tiny problem I still have is with the final advance of the DJI - it looks to me like a 3-wave advance, rather than a 5-wave advance. Can anyone clarify this?

    Regards,

    Ultrafart.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.