Food for thought as the trading year approaches it's end. This count suggests lower prices below 23000 level. And reflects my belief that a 5th wave Cycle degree is still pending and that the 4th wave is yet complete as an expanded flat
I was really curious how DJX might look like this days. So I made this.
I hope I'm wrong - so take it with a grain of salt...
DJX seems to have completed a Major Elliot Wave Pattern, starting from the 2008 Crisis.
It's starting to show signs of a correction.
I've put together 3 major scenarios:
Starting from best-case scenario to worst-case scenario
The price, if still behaving in a sharp downtrend direction, the fibo lines of the upper lever impulse in coordination with the fibo extension of the last ABC zigzag impulse, are the areas to find a support level to look to a buy option