DJI - The ideal target of 17,094 is still in sightDJI - Target at 17,094 still in sight

Dow Jones Industrial Index - Target at 17,094 still in sight

Turned down from 17,074.65, but as long as support at 16,871 protects the downside the ideal target at 17.094 still is in sight. That said, we have to be aware, that all requirements now have been fulfilled and a top could be found at any time now, but to indicate that a top is in place a break below support at 16,746 is needed. Only a break below this support, will be the first indication that not alone the rally from early October 2011 is over, but the entire rally from early March 2009 has come to an end.

I'm still regarding the rally from 6,470.11 in early March 2009 till now as wave D of an expanded triangle (megaphone pattern) and wave E of this pattern is still missing. This means, that once wave D finally is over we should expect a powerful decline in wave E lower. This expected E wave could make it all the way down to 5.600 by late 2016, but we might not need a decline as deep as that, but only time will tell.

For now we should still focus our attention towards the upside, but the top is getting pretty close at hand now.

 

 

Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...
Felipe
2014-05-26
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Felipe
Ananyavrat
2016-06-24
Hi Surfer,

Super calls !! And analysis.

Bravo for your brexit call !!
Whats next?

Ull need to update all indices!

Ananyavrat