Elliott Wave Analysis of the Dow Jones Industrial Average (DJIA)

The high into yesterday can be counted as the end of a double zigzag correction from the lows made at 25339. However in order to see a move lower and suggest the recent upside has ended, a strong move back below 26099, then 25952 is needed.

If it continues to hold above yesterdays low at 26099, then there is still scope for a move higher towards 26400 – 26600 before it ends wave [y] and completes what appears to be a double zigzag correction from 25339.

Remains bearish below 27398.

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The content of this website is for educational purposes only, the information supplied shall not be construed as a recommendation to buy or sell any security or financial instrument. Wavepatterntraders will not be held responsible for any losses occurring from the information provided within the website. The information expressed within the website is solely the opinion of the author/owner. Wavepatterntraders are not registered investment advisers. Members are strongly urged to consult an investment consultant before making any financial decisions or investments.

Futures trading in stocks, Forex and commodity markets carries a high level of risk and past results are not indicative of future performance, trading may not be suitable for everyone. Information supplied maybe copied or reproduced with the permission from the owner, providing that the full attribution is given to the original source and have the acknowledgment of wavepatterntraders.com or its owner.

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Elliott Wave Analysis of the Dow Jones Industrial Average (DJIA)

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