Monday, October 10, 2016 11:03:55 PM
INDU E-waves Since January 2016 lows
The chart shows the INDU is in the late stages of an ending diagonal (red lines). Wave 5b is a symmetric triangle (blue lines), so one more zigzag should start any day. Wave 5c may have already begun, but it has not penetrated the upper channel line of wave 5b triangle. Many degrees of waves look to top around the time of the US elections in early November. Regardless of the "winner", markets are signaling a sharp reversal with the distinct possibility of finishing the year in the red. With so many too big to fail institutions about to fail, the US elections really can't be THE critical event in the system.
Deutsche Bank, Wells Fargo, Italian banks, college loans, China'a economy, Brexit, Grexit... take your pick.
The chart shows the INDU is in the late stages of an ending diagonal (red lines). Wave 5b is a symmetric triangle (blue lines), so one more zigzag should start any day. Wave 5c may have already begun, but it has not penetrated the upper channel line of wave 5b triangle. Many degrees of waves look to top around the time of the US elections in early November. Regardless of the "winner", markets are signaling a sharp reversal with the distinct possibility of finishing the year in the red. With so many too big to fail institutions about to fail, the US elections really can't be THE critical event in the system.
Deutsche Bank, Wells Fargo, Italian banks, college loans, China'a economy, Brexit, Grexit... take your pick.
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