You can count this as an atypical impulse or more traditional WXY corrective structure. What I think is going on is this is likely an impulse that was morphed because of bullish/bearish factors that is why you don't see an obvious impulse in the other indices such as Nasdaq or SPX.
Since June we are making a triangle/diagonal structure with 5 waves or ABCDE with...
I think they go full pumptard on the Dow. Why? Because dividends. Companies are still making enough money to pay them and DIA dividend yield is 2.3% which is better than nothing.
That's what happens when you have zero interest rate.
I was trying to figure out why MMM is moving up after missing on earnings .... dividends. If you don't believe me look at PCAR. ...
This is the map for Dow Jones Industrials (tickers: YM1!, US30, DIA, DJIA) the next 30 days or so.
Notes: If you followed the DOW trade, please note that I started with a 10% entry and kept it 10% at each entry and DID NOT TAPER UP. This is because I could see it go up to 27200 without having the evidence to say it was likely to.
After 8/11 or 81/2, PRS...
Dow has yet to break new high while the Nasdaq (Nq1) has. This cause much worrying ahead as the divergence has been widening.
Back to Dow, the 4hr wave analysis which I posted earlier has confluence with the larger time frame wave analysis
Dow Jones Futures Index made it back above 26695.25
The Index has breached a critical level at 26695.25 after bouncing back at 25979.25 and crossing over 26337.25 within three trading sessions. These moves were captured by my support and resistance indicator, which is automated to highlight the current level and also predict the future support and resistance...
This shows an expanded flat. The drop in March was very fast, and there really wasn't that much divergence, so I think we drop one more time, we may not take out the March low, but we will have a big drop.
OK. AFTER 3 ATTEMPTS TO SHORT THE DOW. WON ALL 3 OF THEM BUT CHECKED OUT EARLY BC IT JUST WASNT RIGHT. 4 TRANCHES NEXT WEEK TAPERING UP: 10%, 20, 30, 40 FOR M T W R. FRIDAY IS NFP. PRS IS PICKING UP A BAD SITUATION FOR EVERYONE AND EVERYTHING. THE WORST BEING SILVER, DOW, AND MAYBE BITCOIN.
Will update with time.
YM_F 45 minutes chart below shows that Index has ended the cycle from July 7 high as wave 2 at 25293 low. The pullback unfolded as a zig-zag Elliott Wave Structure. From July 7 high, wave ((a)) ended at 25661 low. Wave ((b)) bounce ended at 26029 high and wave ((c)) ended at 25293 low. Up from that wave 2 low, Index has resumed higher as a 5 waves Impulse Elliott...
With DJI rising fast, NQ slowing down (falling at the time of writing / suddently the weakest index) and VIX showing some strength at the same time, it might be that we're just waiting for DJI to hit it's target.
AFTER NAILING 2 DOW SHORTS IN LIVE TESTING NOT NECESSARILY "BIGLY", PRS WILL ATTEMPT TO DELIVER A MASSIVE WIN IN THIS HAT TRICK. DOW IS IN VERY PRECARIOUS POSITION. PIVO LOOKS TERRIBLE COMPARE TO JANUARY/FEBRUARY HIGH, IMPLYING A LOT LOWER THAN 25K, BUT LET'S NOT GET GREEEDY.
Here was first...
E-Mini, Dow Jones Futures, drops below a critical support level at 26280 after the first-hour opening trades. The Index could continue down to 26227, 26196, and 26141 if it fails to get back above 26280.