wavepatterntraders

Dow Jones Industrials B wave Top of an Expanded Flat?

TVC:DJI   Dow Jones Industrial Average Index
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If the market is close to ending a B wave of an expanded flat, then I would expect it to top around current levels, a strong/impulsive decline back under 21100 would be a good start, a small 5 wave decline would also help on a 15 min t/f The more bullish case (not shown) is the start of a strong 3rd wave breakout. This current labeling would be a nasty bull trap if its a B wave of an expanded flat pattern.

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The new high could also be a B wave of a running triangle, that idea would still imply a move lower, as long as the move from the April 2017 lows remains as a 3 wave advance (currently showing 3 waves).
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