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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: #Breeze who wrote (198712)

7/13/2024 12:04:44 AM

From: #Breeze

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Dow Wave Count Update. Minor Wave 5 of Intermediate Wave (3) is play with a target of 42,635. Coincidentally that is also the objective for that continuation H&S breakout. Breeze

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From: #Breeze	6/1/2024 3:42:55 PM
	6 Recommendations Read Replies (1) of 199250

Dow Wave Count Update on a Weekly Chart. I've provided a detail Wave Count from Cycle Wave III along with commentary to answer questions I've been asked about this wave count. The correction that ended in Oct '22 was a complex Primary Wave (circle) 4. Here are its attributes: - It was a complex triple 3 correction. A WXYXZ price pattern. The (W) Wave was an irregular ABC. - It did not overlay Primary Wave (circle) 1. See the red line from its top. - It was a deep 68% retracement. Note Primary Wave (circle) 1 was an ABC shallow 30% retracement. A wave one and four of the same degree tend to alternate. Simple vs complex or visa versa. The Intermediate Wave (2) correction that ended in Oct '23 was an ABC Running Flat and was of a long duration. The current Minor Wave 4 correction appears to have ended as a running flat. We'll know next week. If it ended then Minor Wave 5 of (3) is in play with a target of 42,635 which also equals the breakout obj of the cup & handle formation. tradingview.com

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