INDU Elliott Wave View
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  1. #1

    Post INDU Elliott Wave View

    Dow Jones Industrial Average Elliott Wave View: More downside

    Short term Elliott Wave view in INDU ( Dow) suggest that instrument is showing 5 swings sequence from 3/03 peak (21018) favoring more downside. From 3/03 peak INDU is following a Double three Elliott wave Structure , where Minor wave W ended at 20579 low and Minor wave X ended at 20887 peak. Index has since broken below the 20412 low, suggesting the next leg lower in Minor wave Y has started already. The Internal Subdivision of Minor wave Y is also unfolding as Double three Elliott wave structure where Minute wave ((w)) ended at 20453 and Minute wave ((x)) ended at 20645 peak. Below from there, index is following another double three Elliott wave structure in Minute wave ((y)) lower, where Minutte wave (w) is expected to end in between 20378-20315 area then should see a bounce in Minutte wave (x) before further downside is seen. Near term, while bounces stays below 20645 peak and more importantly below 20887 peak index has scope to extend lower 1 more leg lower at least. we don’t like selling the index.

    Dow 1 hour Elliott Wave Chart 04/20/2017

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  2. #2
    INDU Elliott Wave View: Further downside

    Short term Elliott Wave view in INDU ( Dow) suggest that instrument is showing 5 swings sequence from 3/03 peak (21018) favoring more downside. From 3/03 peak INDU is following a Double three Elliott wave Structure , where Minor wave W ended at 20579 low and Minor wave X ended at 20887 peak. Index has since broken below the 20412 low, suggesting the next leg lower in Minor wave Y has started already. The Internal Subdivision of Minor wave Y is also unfolding as Double three Elliott wave structure where Minute wave ((w)) ended at 20453 and Minute wave ((x)) bounce turns out to be a flat correction . Where the Minutte wave (a) ended at 20644 peak and Minutte wave (b) at 20379 low, above from there index could have ended the 5 waves in Minutte wave (c) of a flat within blue box area at yesterday’s peak 20629, while near term bounces fails below there & more importantly as far as pivot from 20888 peak Minute wave X connector’s peak stays intact index has scope to resume lower 1 more leg at least. we don’t like selling the index.

    INDU 1 Hour Elliott Wave Chart 04/21/2017
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