I'm going to safely make the following assumptions with regards to the charts above and state a few facts to prove something meaningful about the Dow Jones' price action over the past 9 months:
1) The Dow Jones was in the middle of a corrective wave 2 yesterday afternoon into today's morning action.
2) If you measure the extensions of the "C" wave vs. the "A" wave, they are both exactly 1.618 times the length on the big picture and the 5m chart.
3) Fractals appear in nature and in any other self-similar complex system, like financial markets. They exist in this context to extend out the price action horizontally to better align the various price movements of different timeframes to the broader trend.
4) In doing so, they offer an incredible amount of insight in terms of what exactly has happened and what exactly will happen in the near future, but on larger timeframes.
5) It is reasonable to say that the 5m looks self-similar, such that it closely mimics the broader trend in form and relative length.
If all these assumptions/facts are considered true, then it must be true that the Big Picture of the Dow Jones' is, indeed, a very large CORRECTIVE wave.
This would make sense because:
a) I can only count 3 large zig zags on the
b) the top of the cycle does NOT make a new all time high
c) truncation is very rare and unlikely in this case because of how dynamic and exact the price movements have been and
d) the prior move down appears to be a clear Wave 1 diagonal
Now, if it is true that the Big Picture above is actually a large corrective wave , then that means we are currently in an impulsive Wave 3 down. Ultimately, this matters because the projected price target is necessarily significantly lower than 18,500.
Also, this look has been very difficult to point out because the S&P and Nasdaq were NOT in corrective waves upward. The Dow simply had to follow suit, which makes it seem like all three indices are aligned in their grand wave structures.
They are not, and that is huge news to me at least.
Thoughts on this are appreciated because I believe this is a pretty significant finding if proven true.
But to be 100% sure with fractal you need a volume to be proportional to the price swings, right?
Will say that there is an incredible amount of support and it will not be easy breaking it down further during normal hours.
Asians gotta do us a favor on Sunday if we want to crack it.
by the way i got bloodbath today in the market
any call to make money back sir ? save me likes before please :))
love your calls
(Did you see the crazy move of $SPI today ? we should find out some sticker similar that ;)