Mentorship

Mentorship

Dow

28 Dec 2018 ‚óŹ 04:06 AM

You have probably heard many comments about the Dow bounce being sharp as is usually seen in bear markets etc. And counter arguments about the points bounce v/s %. In the end the Elliott Wave counts do not show a completed 5 wave decline and that is what matters. Yes at the low marked 3 sentiment was extreme, in some readings going back to 2009, like DSI at 4% bulls only. But wave wise this is wave 4 up and near the upper end of the channel I would expect it to terminate and start wave 5 down where 5=1 goes to near 21300. Then if we have another extreme we seriously think about a more sustainable wave 4 of larger degree, bounce. But not the final bottom.

dow 281218

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