According to my risk summation system, the day this coming week with the highest risk of seeing a turn in or acceleration of the current trend in the DJIA is Wednesday February 7th. There is also a smaller peak on Friday February 9th which might cause some trouble.
Last week the Monday January 29th risk window captured the low for the week but it was virtually fully retraced in just a couple of days, so pretty much a dud. The other two smaller peaks in risk summation on Wednesday and Friday appear to have captured minor highs, but nothing too exciting. Just a so-so week for the system.
Given my lousy record at short term EWave counting, the failure of the count that I posted last week was pretty predictable. In a clear display of hope overwhelming better judgement, I updated the count above, but given that this is the third revision, I don't hold out much hope for it either. If that wasn't bad enough, I also showed the weekly interior trend line below that I thought might provide overhead resistance, but it was sliced through like a hot knife in butter. The break through now projects to a a DJIA of about 44,500 which is pretty seriously inconsistent with the EWave count above. Not exactly a banner week for my cracked crystal ball. I do realize that it's Fearless Forecasters, not Faulty Forecasters.