Mini DJIA Intraday Gyrations Update And The DJIA 5000 Forecast

We had some wild moves in the last day or so and there is a chance that this chart can touch another record high before it is ready for another correction. 

The DJIA can also push our buttons and stop just short of a new high, in which it would be just another wave 2 rally. The spike did travel further, but it does not show with a line type setting.  Since the first October peak, choppy waves have made any impulse pattern as rare as a dinosaur.

These gyrations sure can fit into an ending triangle, but it will also work as an ending zigzag from a larger degree diagonal wave. Any new low below 23,200 without pushing to a new new record high would help to quash any bullish scenario I have right now.  Today there are no net gains since that mid October high and if this keeps up,  traders will no longer get their Dopamine rush!  

Hopefully by early next week, we will know more as the full moon is this Friday. Full moons can be very bullish but many times they also do the exact opposite and the markets plunge. 

Here comes Dow 5,000, warns the guy who’s been sounding the alarm for years – MarketWatch

The forecasts for a DJIA bottom are starting to come out, and in the article about we have a DJIA 5000 forecast. Nothing really new here as they have called for this a few years already. 5000 is an easy number if you draw a line across three bottoms.  Any 5000 calls would mean that the DJIA will have to fall through 2 major solar cycle bottoms of 1996 and 2009. This has never happened since the 1932 depression. I’m sure all high degree wave analysts will love this 5000 forecast as well, as they have moved the goalposts many times already. The markets job is to fool the majority all the time and this DJIA 5000 forecast as an easy group consensus they can feel safe with. 

The sad part about this DJIA 5000 forecast is if the market is already oversold  by the time it reaches 7000 or solar cycles #25 starts. If the DJIA does not reach its lowest point by 2020-2021 then the DOW 5000 forecast will never get hit. Waiting for DOW 5000 when it’s going to soar to 34,000 will leave the majority of investors holding wooden nickels again.  Waiting for a DOW 5000 wave count while insiders are buying like crazy or the Gold/DJIA ratio has exploded, will ill prepare us for the major bull market to follow.