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Dow Jones Industrial Average: Technical Analysis - Elliott Wave Update

  • Wave 4 of the impulse wave should be completed now.
  • Profit target based on Elliott Wave is 11,585 when wave 1 = wave 5, when wave 5 is .618 of wave 1 around 11,610. 
  • Fibonacci projections have wave 5 carrying the DJIA to 11,530 which is inline with the 1.618 * wave 1 projection of wave 5.   
  • Market Strength: Strongly Bearish 
  • Market Trend: Strongly Bearish 
  • Market Strategy: Trail stop loss order & take profit at 11,530.  

Market Strength

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