Elliott Wave Analysis of the Dow Jones Industrial Average Index
After my recent posts on the S&P500 provoked some animated discussions, I was persuaded by one reader to look at the Dow. What follows below are three charts that offer my Elliott Wave Analysis of the Dow Jones Industrial Average. Elliott Wave Rules and Guidelines continue to be observed here. However, I must confess that…
Continue reading →Exactly a month back, on 18th August, when we discussed the Elliott Wave outlook for the Dow Jones Industrial Average, we identified 11725 as a key level. The index topped out at 11712 and came off by over 7%. However, we are witnessing yet another recovery in this complex correction, and so a new key…
Continue reading →Having prepared this on the 15th, with an intention of sharing with readers the same evening, I went out for a walk. I suddenly remembered that I had promised my wife that we will go to the movies, and promptly forgot that this update was ready! Anyway, we are still not too far from where…
Continue reading →The last time I looked at the chart for the Dow was back in May 2010, where I warned of a downmove to 9000 levels. The correction went only to 9600 area, (still a nice 11% down from the time of the update). Examining it with fresh eyes and more price action reveals that the…
Continue reading →Here is the Elliott Wave Analysis of DJ Industrial Average that I presented to an audience of over 200 traders this morning. You will see that I am bearish in the slightly medium term for a dip to at least around the 9000 level and would recommend any recovery to get out of longs. If…
Continue reading →One of the readers, Jim to be specific, has asked for the internal counts of waves (1) and (3) of the wave count of the Down Jones Industrial Average that I had posted on 17 Jan 2010. He requested this because he wasn’t sure if they looked impulsive. As I have mentioned elsewhere, Elliott Wave Analysis…
Continue reading →Here is the Elliott wave update on the Dow Jones as of 17 January 2010. It has been a while since I looked at this chart. Someone sent me a note that Bob Prechter has called the top in this index, and he had read about it in Planet Yelnick. So I decided to take…
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