Monday, December 5, 2016

En Garde!

Some market commentators have us about to explode in a minute iii of 3, upward. The DOW says something different at this time. It tells us to be on guard for a sharp reversal soon.

DJIA - Hourly - Be On Guard

The pullbacks along the way are so shallow as to make one hunt to find even a B wave. That, of course, looks most like the running triangle in the middle of the pattern that we commented on in prior posts.

Then, today, in live chat, we began counting out a likely contracting ending diagonal in the (v)th wave position of minute v (circle v) of the Minor C wave.

Just look at the divergence with the Elliott Wave Oscillator - a clear warning! Many, wave counters are probably being fooled in the count because the DOW made a lower low at the point shown at 0, while the S&P500 did not. They are likely counting one extra wave where the DOW says that's not allowed for this count.

Have a great day!



11 comments:

  1. Thank you joe
    In france it's' time to go to bed
      See you tomorrow

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  2. Hi, thanks very much for your detailed and thorough wave counts.

    Please can you tell me what the 'C' wave that is about to end represent on a larger time frame? Would it be the 'a' wave of wave 3 of the Ending Diagonal from the Feb low or something else?

    Thanks

    Purvez

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    Replies
    1. hi ..from earlier posts in the blog, the C wave would end Intermediate (3) of the diagonal, with Intermediate (4) down next.

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    2. Thx for the response. I'll go back and look at some of the longer range charts again.

      I loose track of where we are, unfortunately.

      Purvez

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  3. Joe why cant the move from 2080 be all A of 3 and A completing its 5th wave now.

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  4. Thanks Joe. I'm so glad that by shear luck I stumbled on your youtube channel quite awhile back, and now have been able to follow you on your blog. There's no one else out there that even comes close to your analysis of the market. I'm hoping, since this is St.Nick's day that maybe by Christmas (or somewhere in the not too distant future) you'd do another youtube video. I'll wait to see if Santa comes through.
    ; )
    rose

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  5. TJ, I'd be a little careful who you are calling out as you are not always right

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