Dow Jones: Dow went lower Friday morning and bounced higher again in a wave 2 correction. Next week will confirm any downside move.
Trade active:
DOW open higher today and reached upper trendline resistance and are still in the ED pattern or wave B up for wave (3).
We could see a larger corrective pattern for the ED pattern. The
larger wave (4) / IV correction may occur before the holidays and wave (5) up would continue into the new year, but this could remain choppy in the ED pattern until early Jan before wave (4) down begins.
ED: Ending Diagonal means a very corrective choppy pattern but the action is explosive in the opposite direction after the pattern completes.
We could see a larger corrective pattern for the ED pattern. The
larger wave (4) / IV correction may occur before the holidays and wave (5) up would continue into the new year, but this could remain choppy in the ED pattern until early Jan before wave (4) down begins.
ED: Ending Diagonal means a very corrective choppy pattern but the action is explosive in the opposite direction after the pattern completes.
Trade active:
We should see a minor dowside and another advance/rally to the upper trendline.
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow