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[Douglas]

According to my risk summation system, the day this coming week with highest risk of a turn in or acceleration of the current trend in the DJIA is Friday March 10th.

 

Last week the Monday, Wednesday and Friday risk windows tagged the principal turns for the week.  Of course, whether the Friday risk window turns out to be a top of some sort will depend on action this coming Monday.  I thought the DJIA would trace out a complex "W" or "M" based on the three risk windows, but instead it just formed a simple "V" turning right in the risk windows.

 

 

 

 

Regards,

Douglas

 

[Douglas]

The DJIA appears to be at a somewhat pivotal location testing the bottom of the red triangle's lower line.  The first targets down if the red line holds would appear to be the green and the blue lines which have been respected several times before.  If the upper red triangle line is broken, then I guess it's off to the races.

 

 

Elliott Wave wise, I believe a "b" of a "B" is currently being formed with a 50% retracement price target of about 31,660 and a time target of late March to early April based on the red triangle focus.  The "c" wave up which follows might make a new all time high, or not.  The "C" wave which then follows that should plumb the depths of the 2020 low, or even lower, maybe as early as October of 2023, or possibly sometime in 2024 if things get dragged out a bit.

 

Anyways, that's my current road map, but lots can change on these trading trips making my ever-ready alternate count the best path forward.  

 

Regards,

Douglas

Edited by Douglas, 05 March 2023 - 05:46 AM.