Did anyone else notice we did not stay true to the pattern that happened twice before? We missed the bottom trend line. This leads me to think we might have to head down to kiss that baby before we really head up again. Either that, or it is a very real sign of a bull trap going back up in such a hurry. Tread lightly.
DXY bouncing off major support with the presidential election result shouting out Biden => significant uncertainties + end of megaphone as well as decades resistences.
Expect a BEARISH MEGAPHONE in play.
My last update on this.
Based on the wave count and the time phase proportional factors, we believe the the sub-5 waves of wave 1 of the intermediate phase has been over and as such we are heading for a possible 3rd wave.
Plus the resistance at 30,302 has been tested multiple times and thus it’s weaken.
Should it revert back lower, the possibility of an complex sub wave 2 is...
This is the Dow Industrial Average - Weekly. (Price & Time)
This is only a 2-D Time Slice of a high(er) dimensional wave analysis (see - attachment), with standard Price projection onto the Time axes. (Will add the rest as time allows.)
Trend lines plotted to a crossing point at 30943 which I think may be a top, or at least a turning point for better or worse. This is on February 2nd which I also have ES crossing. This may signify a significant down turn or perhaps more movement up, but a stronger move in direction nonetheless.