On this page,
I am going to go through the long term Elliott wave Count in the DOW Jones, which is operating in the market right now.
The Bullwaves DOW Jones Elliott wave count begins at the top level daily count,
and works downwards to the 30 min wave count.
This page is updated consistently,
with the latest DJIA elliott wave count and forecast.
So check back every so often to view the updated
DOW Jones Elliott wave count for the DOW jones stock index.
DOW JONES INDUSTRIALS
My Bias: market topping process completing
Wave Structure: Impulsive 5 wave structure, topping in an all time high.
Long term wave count: topped in wave (5)
The DOW is in an interesting position right now.
There is a chance that the DOW has completed a corrective rally in wave [ii] green
at the recent high of 25799.
I have labelled this high as the alternate wave [ii],
this level should be watched closely.
The decline off that high has traced out a possible five waves down into todays lows.
and the price is very close to breaking initial support at 25155.
The operating wave count shows a double combination correction still underway
With a rise in wave 'c' pink yet to come.
That will complete wave [ii] green under that interpretation.
If we see a failure below 25799,
Along with another impulsive decline,
That will trigger the alternate wave count.
And wave [iii] down will be underway.
Weekly Elliott wave review.