Dow Jones Index (DJI) – intraday Elliot Wave counts | Technical Analysis | Stock Indices

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Dow Intraday 2

I am not a big fan of Elliot wave, nor is it my area of specialty, but last night this chart pattern jumped right out at me from the charts. It was a glaring 5 waves up followed by a corrective abc equal size. What is even more interesting is a smaller abc within the b wave. I posted this chart in the forum here soon after.

Dow Intraday 3

This is how the day ended. There was some fresh news that pushed the index up at the last hour. Notice another 5 wave decline soon after I posted my previous chart. “Perfect” patterns like these seldom appear, but have strong predictive value when they do.

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