DOW

any move abv yesterdays high (tagged the top end of the channel and broke down) then this wave will start to look impulsive...a break down below 187>157 > *15110/80* > 15030 then almost certain wave B completed at the recent highs... should 15157/110 area hold and bounce then that will setup the right shoulder.... key level.

should the inv H&S form and play out then target is approx 15500+

assuming wave B = 15300 close to 61.8% retracement from lows.
on WAVE A = WAVE C = 14600

dl.dropboxusercontent.com/u/40497882/dow_channel_Jun11.JPG

rgds WS

Hi Jackozy,

Would it be more likely this is a wave B based on the 5 waves prior to this? If its a wave 1 does that mean the waves are starting again and what would that make the wave down just before this one?

Thanks
Amo

And the question is....



dl.dropboxusercontent.com/u/20815047/Dow15min.gif

Any takers?

Here's the updated channel chart, couple of thing going on here - dow back tested the previous high back in april, also strong move of that level and finish for the week

Also those +divergence i talked abt even remained at the lows kicked in - and the results are there to see once dow took out that 15030 level

also couple of patterns going on to keep an eye on - inv H&S maybe forming along with Bull flag.

i'm still seeing this as as B wave counter rally with another lower low to come - however the next pullback will be telling to whether indeed a bottom is in or not..... what a week, the volatility will be the norm from here on in - big moves

EOD - Dow - clear view of bullflag and april backtest of highs...







dl.dropboxusercontent.com/u/40497882/dow_channel_Jun08.JPG

WaveSurfer wrote: that "A" label in 14800's is now tentative.... + div kicks in on Dow if it can get abve 15030... lots of work still do... this is only bounce for now....

14973/65

cheers

WaveSurfer wrote: updated chart -

+div still in place...bounce then more down imo. half way into the correction...next move will be quick Heavy thrust down...then new highs from from 14200-14500 zone.. specif targets to be assessed when near those levels

14900 key area

dl.dropboxusercontent.com/u/40497882/dow_channel_Jun04v2.JPG

added potential moves over till end of June...

dl.dropboxusercontent.com/u/40497882/dow_6th%20June.JPG

loved it

hope you enjoyed surfing with me & J amo !