DOW

I've just done a little study of the dow and came to the conclusion that this move up is minor wave 3 of intermediate (3)of Primary ((5))

I tried lol

Im long on the dow with a 40 point stop from here...


dl.dropboxusercontent.com/u/4899609/dow5thjuly.png

Dow above the 15083 - will it close above?
lets see!!

personal view point is dow has made an intwave 4 bottom and now intV of Major 3 of Primary 3 in progress.

dl.dropboxusercontent.com/u/40497882/dow_1hrWaves_4July.JPG





Rgds WS

WaveSurfer wrote: Dow futures hit within a few pips to the target initial target level 14848, if this level gets smashed through then 870 /900 next up.

WaveSurfer wrote: If the dow can continue to at least rally to 14900+ or spx 1604 then likely the low has been put in and will likly confirm a wave iv low @549

Watch >590 >652 > 680 > 714 > 752/4 > 848 area on Dow today...

cheers WS

Yes - Very useful as always.
Yes I do remember 2009 and the days of XTA charts where you helped me to make my first sensible trades, and where virtually every day felt like an up day in the Aim Market (GKP/XEL etc..)- those days seem long gone and I am surprised how much the DOW has rallied whilst the Miners and Oil minnows have yet to follow ...
Many Thanks

SE

Syrian Empire wrote: Hi Remo - Where are we up to with the DOW? Low volatility and drifting? there was talk of a dip to 14300 area - is this still an option?

Currently have my pension sat in cash and looking for an entry point to coincide with DOW low.

Thanks

SE

Hi syrian

its a tricky one this.
were still in the uptrend as such as the main trend line is far away. Near 13000 points ..so any move down will just be a correction for the time being. Im more of a short term trader so i look at the dow from day to day and not from a long term perspective. So with regards to pensions im the last person to talk to about that. Bull markets generally last around 4-5 years and right now its been 4 years since the start of this bull market. I dont know if you remember but i called the bottom in march 2009 over on iii when chartsview was just a private board The days when i used to try and help people learn elliott waves.I dont teach my method of elliotts anymore as it drove me mad trying to explain things over and over and in the end it even confused me with all the counts.short term,long term .The labeling of elliotts can be very confusing and its beyond chartsview really to teach. .
Time has flown since those days. Everyone was doom and gloom at that point. right now there is no extreme feelings out there so doubtful that were at the top. I still think the dow primary target is going to be in the 17000 region and thats where this bull market may top out. Possibly another 1-3 years??? who knows ...

dl.dropboxusercontent.com/u/4899609/dowbullmarket.png

I dont remember a time when the markets have done so well during a down turn. All the quantitive easing has made things more un predictable . What happens when the world starts to recover properly??? So reading the markets using general economics may not be so straight forward as in the past. Thats generally my feeling.
Like i said im more of a short term trader.

short term..
if the dow finishes above 15083 then a possible 123 low formation again. The last one failed.
if it does break out above 15083 i suspect its going to be a quick move. This should then head towards the down trend line on my chart at 15270 ish area. where it will stop and hesitate This is the area that it has to break above to signal new highs may be near.Once that trend line gets taken out then this should make new highs again.

dl.dropboxusercontent.com/u/4899609/dow4thjuly.png

so take the above with a pinch of salt.
Now i can stop my ramblings
hope the above was of some use