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Post# of 51808
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techcharter

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techcharter

Re: techcharter post# 41417

Thursday, 10/01/2009 10:43:10 PM

Thursday, October 01, 2009 10:43:10 PM

Post# of 51808
Dow Industrial E-wave Recount

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=6&dy=0&id=p75635173805

Today's sharp selloff negates being in wave 5 of c. The most likely count is wave 5 of c ran from Friday to Tuesday and truncated. At this point the wave count is a bunch of 1-2, 1-2 of smaller degrees, but larger moves.

When the Industrials are compared to the Transports, the transports have a very clear double zigzag, textbook triangle in May and June, crisp top, and motive downward movement. The Transport also have a clear divergence with the RSI. Downside volume in the Transports has grown noticeably since its top. The technicals for the Transports are flash SELL. The Industrials can't be far behind.

http://stockcharts.com/h-sc/ui?s=$TRAN&p=D&yr=0&mn=11&dy=0&id=p55422058241
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