Dow

Dow - Unlike the S&P which has a wedge like structure the Dow has an expanding structure. Remember in July I marked the correction in the US as a 4th wave. Keeping that in tact the 5h wave as shown below is an expanding triangle in the DJIA. Wave E is complete and short term indicators are in sell with negative divergences. The implications should be the start of a large decline to the lower end of the pattern at 14680, and on a break below that level to the measurement target of 13700. This over the next 3 months would put pressure on global equities.