Replies to post #46805 on Short Term Trading Member Forum

[techcharter]

INDU Looks Corrective Today

After my earlier post near the low of the day, the rally unfolded in a zigzag. A challenge to the March 2012 highs is now reduced.

Bullish e-wave count: the rally off this morning's low is the beginning of a wave 1 of a larger wave 5 ending diagonal.

Bearish e-wave count: the rally off this morning's low is a double zigzag. More downside early next week.