Replies to post #140109 on Simple's Green Room

[pennies2007]

DOW Jones Long Term Outlook...Correction

I just realized I posted an incorrect wave count on the DOW Jones chart. This chart shows the corrected version. Basically, we're wrapping up a large 5th wave expanding diagonal. The expanded flat I mentioned in the first post ended in a C wave down during the last recession.

So the sell off, when it comes, will ultimately break the expanding diagonal you see on the chart to the down side. The down side target is still down around 1000...maybe less.