Breaking down Dow Jones Elliott Waves
The above chart is my main hypothesis for the Elliott Wave count of Dow Jones which represents the Elliott Wave Analysis of the Bull Market Post 2008 financial crisis.
Kindly read all the details to better understand the Elliott Wave analysis and how Elliott Waves can be used to give us an edge in trading.
Currently it looks like we are in an Ending Diagonal waves. The reason we are in Ending Diagonal Wave 3 instead of Wave B of ABC flat is because we are too far up now for our current market to be considered in wave B of an ABC flat.
The 2008 crisis bear market was an ABC flat, if you look, we crashed at that time when Wave B was at around 138% of Wave A.
I have attached sub wave structure of the rally we have seen so far after the COVID crash.
I have explained my reasoning for my wave counts in the chart which you can take a look.
Now moving further inside our sub waves, below chart shows the sub wave structure of the ABC wave we are in since 27 October, 2023
Further moving inside our sub waves, the chart below shows the breakdown waves of our this year move. Once all the waves shown in the below chart finish, we should see a correction towards our Post COVID peak price levels.
Kindly read all the details to better understand the Elliott Wave analysis and how Elliott Waves can be used to give us an edge in trading.
Currently it looks like we are in an Ending Diagonal waves. The reason we are in Ending Diagonal Wave 3 instead of Wave B of ABC flat is because we are too far up now for our current market to be considered in wave B of an ABC flat.
The 2008 crisis bear market was an ABC flat, if you look, we crashed at that time when Wave B was at around 138% of Wave A.
I have attached sub wave structure of the rally we have seen so far after the COVID crash.
I have explained my reasoning for my wave counts in the chart which you can take a look.
Now moving further inside our sub waves, below chart shows the sub wave structure of the ABC wave we are in since 27 October, 2023
Further moving inside our sub waves, the chart below shows the breakdown waves of our this year move. Once all the waves shown in the below chart finish, we should see a correction towards our Post COVID peak price levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.