TradingView
tomj2417
Aug 14, 2016 12:23 AM

Elliot wave and Andrews Pitchfork for DOW suggest possible top. Short

Dow Jones Industrial Average IndexDJ

Description

The Andrews Pitchfork takes the 2002 low for A and the respective 2007 and 2009 high and low for B and C. The Elliot Wave markings are on the chart. This analysis seems to suggest that the DOW may run into some serious resistance any time soon.

Comment

Currently bouncing off median line support.....

Comment

Perhaps has got one more leg up to complete wave (if not completed already).

Comment

That trendline is proving very resilient!

Comment

Or at least it was....

Comment

Wow. What a move up to regain the initiative post US election. Still don't think this rally has legs but this comment will probably mean it does.....
More