Dow Alternate

9 Oct 2018 ‚óŹ 10:23 AM

I have repeatedly discussed the end of wave 5 on the Dow and the recent selling almost feels like a trend reversal but one bullish alternate remains. I have tried to fit wave 4 triangle all the way to July recently but it does not have the perfect look, it only allows us to complete wave 5 from there. the perfect triangle is into the May low as shown many times earlier. So from that low the Dow has only completed 3 waves meaning that the recent correction may only be wave 4 of 5. Then we should witness one last blow off move in the Dow to new highs in wave 5 of 5 before a top so near term we need to see what the next up move in the Dow looks like. Does it result in a lower high or a new high, and unless we break the recent lows this bullish alternate remains open. This is a weekly chart. The trendline of the highs goes to 27224.

dow 091018a

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