E-Mini DJIA Intraday Record Tops Review

 

 

The March 2017 contract has been flirting with the 20,000 price level for some time now.  I love it because it’s like sticking a piece of candy in front of a kid and then taking it away, teasing and taunting all the way. It’s irrelevant to me if it does or does not hit that consensus forecast, as they have no clue what would happen once that 20,000 actually does get hit.  

The degree level is the same as the SP500, but it sure does not have the same wave count as the Sp500 does. At best I can get it into a 5th wave diagonal.

Shorting this market can be done with the ETF called HDGE, which I’m sure the season contrarians have been buying all the way down. Insiders have been sellers, not buyers of their own stocks like FB and APPL as that all adds to the bearish case.   Any wave count I may produce should always confirm what the season contrarians are doing, or will do, as they have a far better track record in building wealth than any wave analyst has ever done. 

The 2009 bottom was a clear example, when the wave counters were left in the dust while waiting for DOW 1000.  This will never change as any wave count that is in sympathy with the herd is doomed to fail!  The fact that sc#24 had started was like taking a sledge hammer to nail the bear market coffin closed. Yet the wave analysts ignored all this important data.  

Do we have to wait another 10-11 days while this market plays us like fools or will it pop sooner?