This is an update on my previous DOW idea with analysis, I thought I would elaborate after reading some funny comments on the previous DOW chart which is fair enough.
So the reason for my forecast is that I believe we are in a long term corrective pattern, an expanded zig zag which started in 1987.
So we have completed more than 50% percent of this pattern as labelled on the chart and we are heading into Wave iii of 3 of Wave C which is the strongest portion of the wave.
It's not easy to predict exactly how long it will take to complete Wave C so a time relationship with Wave A is used estimate the target.
When looking at the DOW waves objectively this is the only possible conclusion which makes sense according to MY version of wave theory.
Elliott Wave is flawed so I am not using it solely in any of my analysis.
Feel free to add more funny comments they are quite entertaining. Thank you and Happy New Year!
So the reason for my forecast is that I believe we are in a long term corrective pattern, an expanded zig zag which started in 1987.
So we have completed more than 50% percent of this pattern as labelled on the chart and we are heading into Wave iii of 3 of Wave C which is the strongest portion of the wave.
It's not easy to predict exactly how long it will take to complete Wave C so a time relationship with Wave A is used estimate the target.
When looking at the DOW waves objectively this is the only possible conclusion which makes sense according to MY version of wave theory.
Elliott Wave is flawed so I am not using it solely in any of my analysis.
Feel free to add more funny comments they are quite entertaining. Thank you and Happy New Year!
