Hi Friends,
With the breakdown from this Terminal Triangle in Wave 5 of C Warning Bells are ringing on Dow Jones.
The Day it Closes Below 13K all the Bullish Bets in this World will be off.
We can clearly Identify this Ending Diagonal or Terminal Triangle in Wave 5 of C with complete overlapping by Waves (a,b,c,d,e). This is Vary Dangerous pattern for Bulls.
Further this Rising Wadge on Dow Jones can take it to minimum 11500. We can Also see a clear RSI Negative Divergence on DJIA weekly chart and declining volumes on rally which is clear indication of losing momentum.
Well I have two alternate counts on Dow Jones.
As per my 1st Alternate taking this high of 13300 as wave A; the impending wave B would take it down to near 11500 level which is also the Rising Wadge target.
But Lets look at this second alternate of an Expanded Flat. Taking the High of 13300 as Wave B of an Expanded Flat the Impending Wave C can take DJIA to as low as 9550.
As of now I'm going with this second alternative which is my preferred count. But the mode of the forthcoming fall will lead us whether to choose which 1 of these two.
Only in case DJIA goes above this high of 13300 we need to reconsider these alternatives as then it would be something else.
Thanks & Regards
Harsh Dixit
With the breakdown from this Terminal Triangle in Wave 5 of C Warning Bells are ringing on Dow Jones.
The Day it Closes Below 13K all the Bullish Bets in this World will be off.
We can clearly Identify this Ending Diagonal or Terminal Triangle in Wave 5 of C with complete overlapping by Waves (a,b,c,d,e). This is Vary Dangerous pattern for Bulls.
 |
| DJIA Dialy |
Further this Rising Wadge on Dow Jones can take it to minimum 11500. We can Also see a clear RSI Negative Divergence on DJIA weekly chart and declining volumes on rally which is clear indication of losing momentum.
Well I have two alternate counts on Dow Jones.
As per my 1st Alternate taking this high of 13300 as wave A; the impending wave B would take it down to near 11500 level which is also the Rising Wadge target.
 |
| DJIA Weekly |
But Lets look at this second alternate of an Expanded Flat. Taking the High of 13300 as Wave B of an Expanded Flat the Impending Wave C can take DJIA to as low as 9550.
 |
| DJIA Weekly |
As of now I'm going with this second alternative which is my preferred count. But the mode of the forthcoming fall will lead us whether to choose which 1 of these two.
Only in case DJIA goes above this high of 13300 we need to reconsider these alternatives as then it would be something else.
Thanks & Regards
Harsh Dixit
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