Dow

IMHO it looks like the Dow is just resting a little. Because it hit a 10k magic number it does not mean it will suddenly alter course.
The Dow is generally not as volatile as other indexes. It moves in long waves most of the time.

And guys, it is Christmas/Hanukkah/New Year's.
The darkest day of the year is nearly here. A long night to party.
Everyone is busy stuffing their faces and shopping.
Or depressed as hell. Not the time of year for a lot of trading.:)

Time to take the hint and take a VACATION.:cool:
 
The rally back into the close has been "perplexing" to Prechter's people today. They are bullish above 1057 in the Dec. S&P and bearish below it, with a 1047 minimum target should 1057 be broken. It is still possible ( they say ) that this weakness is merely a "b" inside of wave V that will need lower numbers before it is complete.

Basically, they see a Wave V here that ( once completed ) finishes 5-waves up from the August lows in a much larger A-B-C up from October of 2002 major lows, with the B wave starting in March of this year.
 
Quote from waggie945:

The rally back into the close has been "perplexing" to Prechter's people today. They are bullish above 1057 in the Dec. S&P and bearish below it, with a 1047 minimum target should 1057 be broken. It is still possible ( they say ) that this weakness is merely a "b" inside of wave V that will need lower numbers before it is complete.

Basically, they see a Wave V here that ( once completed ) finishes 5-waves up from the August lows in a much larger A-B-C up from October of 2002 major lows, with the B wave starting in March of this year.
More...

looks like 5-day trin buyers are here and jump on board in last hour :)
 
chasinfla: "elliot wavers: is this an extended 5th? "

Suppose you start from the October 2002 low, but what is your specific wavecount in 5?
 
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