DJI, There need to be more!

12. Mai 2018

EW: This chart only shows optimistic counts, where the DOW seems to be in a Minuette wave 3. Since the beginning of this wave (2018-05-03), there has been NO wave 1 and wave 2 on a Subminuette level!
STOCH: This indicator clearly shows an oversold situation on 1D and lower time frames! Only on weekly and monthly, the indicator is still increasing
Line Study: Another rising pennant is probably forming, which would be a bearish signal.
According to Wyckoff-Accumulation, DOW is probably in phase D, with a possible sidewards reaction.

During the coming week, we will see 25000 and if this wave 3 pattern is real and the DOW continues to rise 26000ish (1,618) should be possible.- So far, I wait for confirmation signals for a up or down move...

12. Mai 2018

Anmerkung

Please, NOT ...oversold... It's a overbought situation! SORRY!

12. Mai 2018

Anmerkung

See further details on 3m:

12. Mai 2018

Anmerkung

12. Mai 2018

Anmerkung

This chart shows further details on a 3m scale (supposed wave 3). This leg is clearly divided into three parts: It starts with an 1-2-3-4-5 wave, which stops at point A, followed by some sort of corrective ABC-pattern, which stops at 0,236 (24272) only. The prob. ongoing third wave starts at point B, has an impuls count and made 0,618 of the first wave already (!).
Results:
Point A and Point B cannot be assigned to as wave 1 and as wave 2 on a daily basis! I tried this, but it was not accepted.
My algos only accept an A and B for these two points! -This would open the door or give us a further indication, the whole correction, starting 2018-01-29, is not over yet!
Line study: Just before market close, the lower supportline of this pennant has been broken. (Poss. bear trap?)