This is an update to my post last month on the DJTA.
The DJTA needed to move above 8149 to confirm a Double Zigzag pattern up from the January 2016 bottom.
This confirmation was made on 10/4/16 and came close to .618 resistance.
This implies a move down at least back to the January bottom has begun.
Mark
In my 9/6/16 post I noted a Fibonacci time cycle due on 9/7/16 and a possible secondary high at SPX 2187-2188 near the open. The target was achieved one hour into the trading day then declined about 8 points followed by a rally in the second half of the day almost back to the high of the day. That the SPX could retrace so much of the decline is a clue that the...
I think the dollar makes yet another move higher short term, with Japan expected to do more QE, emerging markets hurting and yet even more currency devaluing their only alternative ( see India's latest 1% move). But their is a TIPPING POINT to currency devaluing, see Brazil. The US FED needs inflation, and cannot get it until everyone else stops devaluing...
Dow Jones Transportation average risks entering a new leg of downtrend, if the price holds below the 1st standard deviation from its quarterly (66 day) moving average (now at 8382.9).
Risk will be confirmed by the price falling below recent lows (at 8248.7)
