Dow - Trend reversal
Dow - or the DJIA turned lower and closed below the 20dma. After a 5 wave advance and negative divergences this should be a trend reversal. Should we mark the recent high as wave 2 or 5 or X will remain an ongoing discussion with no perfect answer at this stage. I have put an X there for now. The implications are first for a test of 17484 near term and then staying below that up to the lower channel line at 15500.