Much More Bullish Alternate Elliott Wave Count for DJI
In a recent SPX post I noted it could be forming an Elliott wave Ending Diagonal Triangle. This almost always has a converging wedge shape, the SPX still has a wedge - barely.
However the DJI is in a near perfect parallel trend channel, It is very doubtful the DJI is in a EDT and therefore doubtful the SPX is in an EDT.
The DJIA now has a very bullish series of one's and two's. The SPX probably has a the same count.
SPX has major Fib and trend line resistance in the 3050 area its possible this could be blown away and could reach 3300 in a few months.
If necessary I will have a future post with possible DJI upside targets.
Mark
However the DJI is in a near perfect parallel trend channel, It is very doubtful the DJI is in a EDT and therefore doubtful the SPX is in an EDT.
The DJIA now has a very bullish series of one's and two's. The SPX probably has a the same count.
SPX has major Fib and trend line resistance in the 3050 area its possible this could be blown away and could reach 3300 in a few months.
If necessary I will have a future post with possible DJI upside targets.
Mark