****Please see my DJTA post six days ago****
The DJTA could be the most important stock index to watch. It's Elliott wave structure is very clear and it's development appears to be more advanced than the SPX and DJIA. Meaning it could be a very good early indicator for movements in both the SPX and DJIA.
Minor wave "4" down appears to have begun. Daily Stochastics has a bearish cross over. The daily MACD recently had a double bearish divergence and is on the verge of a bearish cross over.
If the wave count is correct, Minor wave "4" could bottom in the 8800-9000 area in the next two to three weeks.
This current move down in the DJTA could be the prelude to a 4-5% decline in the SPX and DJIA.
Both of these indices appear to still be in developing Minor wave "3" if so their respective wave "3" tops could be days or weeks later.
I will have updates on the DJTA progress.
Mark
The DJTA could be the most important stock index to watch. It's Elliott wave structure is very clear and it's development appears to be more advanced than the SPX and DJIA. Meaning it could be a very good early indicator for movements in both the SPX and DJIA.
Minor wave "4" down appears to have begun. Daily Stochastics has a bearish cross over. The daily MACD recently had a double bearish divergence and is on the verge of a bearish cross over.
If the wave count is correct, Minor wave "4" could bottom in the 8800-9000 area in the next two to three weeks.
This current move down in the DJTA could be the prelude to a 4-5% decline in the SPX and DJIA.
Both of these indices appear to still be in developing Minor wave "3" if so their respective wave "3" tops could be days or weeks later.
I will have updates on the DJTA progress.
Mark