Short Term Trading Member Forum

[techcharter]

Spectral Model and E-wave Confirms INDU Top

Today's break of the February 2015 lows confirms the ending diagonal count from the October 2014 lows is complete. The only real hope bulls have is trying to count an ending diagonal from the February 2014 lows. Such an alternate count wound not have the classic sharply converging lines of an ending diagonal.

Indications from my spectral model are the top is in place. The market has fallen below the model after many years above. The market top is a few % points above the top in the model. The model usually lags the market within 100 days. The model has dropped a few % points from the top. These are all characteristics present at the other major market tops over the past 90 years.