My count has Wave E down on deck for DIA/DJI.
In the current wave pattern the wave i up (of Wave D) was so short/quick, thus prediction is that wave v (of Wave D) will also terminate quickly and I think it did today. Stoch RSI appears to be confirming and the Woodies CCI popped a +200 today indicating a possible turn.
I had originally thought this might be a simpler ABC down but see chart for couple of prior corrective wave patterns for comparison. The Wave C in the current pattern is too short for an ABC down IMO, thus Wave E is in play.
Only question is will it happen tomorrow on the last trading day in May. Will it truly be a sell in May and go play?
Somehow I think they will keep this thing afloat until next week.
Enjoy the Holiday on Monday if you are in the states.
Not financial advice.
In the current wave pattern the wave i up (of Wave D) was so short/quick, thus prediction is that wave v (of Wave D) will also terminate quickly and I think it did today. Stoch RSI appears to be confirming and the Woodies CCI popped a +200 today indicating a possible turn.
I had originally thought this might be a simpler ABC down but see chart for couple of prior corrective wave patterns for comparison. The Wave C in the current pattern is too short for an ABC down IMO, thus Wave E is in play.
Only question is will it happen tomorrow on the last trading day in May. Will it truly be a sell in May and go play?
Somehow I think they will keep this thing afloat until next week.
Enjoy the Holiday on Monday if you are in the states.
Not financial advice.
Comment:
Futures ready to rip higher this Friday morning....thus it looks like markets will stay aloft into next week. Will reassess later today.
Comment:
They held it to end of the day. LOB next week. Not Financial Advice
Comment:
CCI is almost off the charts on the 15 min and 30 min charts at +480 this morning on the pre-market/futures pump....LOB.