In my last post I noted possible Nasdaq resistance at the .786 retracement level and a declining trend-line.
The Nasdaq moved beyond both implying more upside in the near term.
The DJIA has the clearest wave count and appears to be near completion of a Elliott wave Ending Diagonal from the August 24, 2015 bottom.
A Fibonacci 89 calendar days after the 8/15/16 top targets 11/12/16 a Saturday.
Monday 11/14/16 is a full moon, based on these to factors 11/11/16 is a possible turn date
and perhaps a significant top.
Mark
The Nasdaq moved beyond both implying more upside in the near term.
The DJIA has the clearest wave count and appears to be near completion of a Elliott wave Ending Diagonal from the August 24, 2015 bottom.
A Fibonacci 89 calendar days after the 8/15/16 top targets 11/12/16 a Saturday.
Monday 11/14/16 is a full moon, based on these to factors 11/11/16 is a possible turn date
and perhaps a significant top.
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.