The DJIA appears to be nearing the peak of the post Horizontal Triangle rally. There's some doubt as to where the Horizontal Triangle ended. The second bottom made on 11/18/16 looks like the better of the two because the sharp move up after that bottom is more in the nature of what usually happens after a Horizontal Triangle.
If the earlier bottom is the correct wave (4) bottom it would extend the rally.
Very short term it looks like the DJIA could rally maybe another 20 to 30 points. A top could come in the first hour on 11/23/16. If not, then perhaps at 2:00 PM ET when the FOMC minutes are released.
There is a very high probability an important intermediate stock market peak could come on 11/23/16.
Mark
If the earlier bottom is the correct wave (4) bottom it would extend the rally.
Very short term it looks like the DJIA could rally maybe another 20 to 30 points. A top could come in the first hour on 11/23/16. If not, then perhaps at 2:00 PM ET when the FOMC minutes are released.
There is a very high probability an important intermediate stock market peak could come on 11/23/16.
Mark
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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.