WEEKLY
DAILY
Dow Jones Industrial Index
Since my post from Friday the 9 of August (http://theelliottwavesufer.blogspot.dk/2013/08/elliott-wave-analysis-of-dji-eurusd-and.html) we have seen a break below important support at 15,071. So why is this support so important? It's important because it marks the top of red wave i of v and as one of the Elliott Wave Principle rules say "Wave four is not allowed to enter the territory of wave one" With the break below 15,071 we have just seen that rule broken on Friday and therefore it must be concluded, that wave D is in place at 15,658 and wave E is developing. As the first minor target I'm looking for a decline towards 14,551, this support will likely hold at the first attempt to break it, but it will likely be broken on the second attempt, calling for a much deeper decline over the next many months. As a minimum target for wave E I will be looking for 11,064, but wave E can fall all the way to just below 6,000 during 2014 and 2015, with 2015 being the year where we have the largest potential for a panic decline like we saw it in 2008.
Apple
Since my last post on Apple from August 6 (http://theelliottwavesufer.blogspot.dk/2013/08/elliott-wave-analysis-of-apple-short.html) we have seen a nice rally and should be well under way towards the S/H/S target near 542, which is also where wave iii will be 2 times longer than wave i. So for now we should keep our focus towards the upside and enjoy riding wave three higher.
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