My last DJI chart suggested that DJI had completed an expanded flat correction
for intermediate wave (2) black.
This chart adds weight to that idea and expands on my thinking and deduction:
On the 4 hour chart which is my favourite for medium term EW analysis the final
impulse wave can be seen terminating in the wave (V) olive top.
Intermediate wave (1) black is a 5 wave impulse down with wave 3 Blue
exhibiting the lowest momentum, RSI & Stochastic as is typical of third waves.
Divergence appears for wave 5 which takes the form of an ending diagonal.
Intermediate wave (2) black is an expanded flat with the b wave touching the .786
retrace of the previous impulse wave.
If correct this opens the door for a much larger fall in wave (3)black and the open
gap will act as a magnet. The same prognosis applies to the SPX & NDX indexes.
Next week will may be very eventful! Good Luck
for intermediate wave (2) black.
This chart adds weight to that idea and expands on my thinking and deduction:
On the 4 hour chart which is my favourite for medium term EW analysis the final
impulse wave can be seen terminating in the wave (V) olive top.
Intermediate wave (1) black is a 5 wave impulse down with wave 3 Blue
exhibiting the lowest momentum, RSI & Stochastic as is typical of third waves.
Divergence appears for wave 5 which takes the form of an ending diagonal.
Intermediate wave (2) black is an expanded flat with the b wave touching the .786
retrace of the previous impulse wave.
If correct this opens the door for a much larger fall in wave (3)black and the open
gap will act as a magnet. The same prognosis applies to the SPX & NDX indexes.
Next week will may be very eventful! Good Luck