TRAN Wreck E-waves The long term pattern the Dow Transport charts show is a massive ending diagonal which started from lows in 2003. Preferred Count Wave 1: Early 2003 low to Mid 2007 high. double zigzag Wave 2: Mid 2077 high to Early 2009 low. 3-3-5 Flat Wave 3: Early 2009 low to Mid 2011 high. zigzag Wave 4: Mid 2011 high to Mid 2012 Low. zigzag Wave 5: Mid 2012 Low to August 2012 high. truncated double zigzag. Alternate Count Wave 4: Mid 2011 high to present. Nearly complete triangle. Wave 5: Still to come, should be a very sharp move to the 5600 level. Falling below 4800 would confirm the preferred count. A sharp rise above the upper edge of the triangle would confirm the alternate count. http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Index&symb=djta&time=20&startdate=1%2F4%2F1999&enddate=8%2F30%2F2012&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9&x=20&y=5