Dow Jones Industrial Index
I'm looking for a major top during 2013 followed by a major decline, which will likely terminate sometime during 2016 in wave E of a major expanding wave 4 triangle, before we will see the final rally towards the upside in this super cycle rally.
Looking at the daily cycle chart below we can see, that we currently are under pressure from the cycles, but we should see the cycles bottom together some time during mid-April at which time renewed upside pressure should take us higher. That said, we should not forget the seasonal downside pressure from May and into June/July. I would expect a major top some time during the Autumn likely in September or October.
Is currently sitting at major support near 3.30 and a break here will call for a major decline towards 2.0. We should see strong support at 3.0 and at 2.74 on the way Down towards 2.0, but for now support at 3.30 is firmly in place and to add more downside pressure a break below 3.30 is needed.
Is walking on a swords edge right now. There is no more room towards the downside or my bullish count will be invalidated and call for a deeper decline. However a break above 1,620 in gold and 29.46 will ease the downside pressure and be the first indication that a bottom is in place and a new powerful rally higher have begun.
Has clearly broken above resistance near 4.0 and the Next targets should be 5.0 and 6.0. Once we reach 6.0 a large decline should be expected and at this time we will know whether we have seen a large X-wave or a new impulsive rally is taking shape.
No comments:
Post a Comment