Dow Transports

Dow Transports starts a final leg. Wave E targets set out in June were not achieved and it was not clear whether the expanding triangle was complete because E is to be a 3 wave pattern and all I could see is an impulse followed by corrective moves. Now those corrective moves are part of a triangle in wave b of E and wave c of E may head towards the 6850 target. Wave c will be five waves up whether it achieves the target or truncates matters less. When complete and it turns down we will again be in a position to look for a decline in US stocks.