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re DJIA---Only if it exceeds 10,733 is the DJ out of the woods---I think we are either in (iv) of Wave 3 here or in Wave 4 itself--Under elliott, Wave 4 cannot print above the 10,733 low of Wave 1 in a 5 wave sequence--and wave 4 usually tops out between 38%-50% retrace of Wave 3----so, if we are now in Wave 4, it should top out between approx 10,500 and 10,600 (38-50% retrace marks)----whereas if we are only in (iv) of wave 3, we should top out near approx 10,400-10,500--take your pick--currently 10,375 on window dressing maybe (note that 10,409 was the old support, which gave way, and 10,402 was the peak of a few days ago from which it dipped down again to a new low at 10,081)----either way, i still think we will undercut 10,081 low of Wave 3 in the next 1-2 weeks max. my 2c |
