DOW has peaked out and the down move has started. Based on Elliott Wave Analysis the ending diagonal has completed 5 moves after which a big correction is expected, giving the confirmation is the Candle stick signal patterns a Bearish Shooting star as well as Evening Star. Expect market to correct till 15500 as 1st Target and then beyond. Looking at Fibonacci Retracement it can correct till 14500 as 50% retracement. Going Short is the way to go with a good risk reward ratio.
Now what that it has along with all other indices have stage a sharp v shaped recovery? all above 200daily ma too
willworknow
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This is EXACTLY what I have also....I am glad that someone agrees. This is a HUGE expanded flat where we are just now completing the B wave and are starting the C wave down WAY past ~6400...over 2-3 years. What do you think about these long-term charts at trackthemarkets.com ? You will also see this a global event...the ASX200 and Footsie also are sporting Ending Diagonals.
Lechacal
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no way is there an expanded flat, Dow went far too far above it's original high of a few years ago. Only the top of the larger 3rd wave I reckon, maybe even only the third of the 3rd larger wave, correction underway surely but far higher levels ahead into 2016