Elliott Wave Analysis of the Dow Jones Industrial Average (DJIA) by Sid from ElliottWavePredictions.com. Click on the charts twice to enlarge.
The Dow hit my triangle thrust target of 15261.35 today, and while Elliott Wave thrust-from-triangle targets are guidelines and not rules, the market is respecting the level so far. The upward movement in the Dow can be counted as complete. Other US indices sporting thrusts from intermediate degree wave B triangles are: 1) the SPX (thrust target 1684.1 – not hit yet), and 2) the ES Futures Contract (thrust target 1661.25 – not hit yet, but very, very close today @ 1659.75). The Nasdaq Composite and Russell 2000 did not form wave B black triangles during the second half of last year, but both appear to need a pink wave 4 and 5 to finish their respective up-trends.
Services Offered by ElliottWavePredictions.com: