Here is my Elliot Wave count for the DJI that I'm quite confident on and that I've been watching for a while. By my count we are still a Wave 4 of a greater Wave A correction. We continue trying to breakout above the 200 EMA on the hourly. I think we are going to see big rejection soon, especially if we manage to hit the 0.65 fib retracement level. The MACD indicator on the 4h time frame also suggests that a powerful change in direction for price action may occur very soon. I'll be looking for a buy entry around 21,000 range after Wave A. I'm not as sure about time estimates but I want to aim for February 7th-14th. Please don't hesitate to provide feedback or criticism as it is all appreciated since I by no means believe myself to be an expert.
I was thinking it would hit the low around Feb 1st or 4th and that is when to have a buy entry. And it would be like you said around the 21,000 area, probably around 21,900. But I am just guessing. :-)
Princessgirl
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@AlanDemier , you were right. It is probably going to be around Feb 7th to 14. I didnt think it was going to continue up.