Mini DJIA Intraday High Update: Is The DJIA Tired Of Breaking Records?

My iMac operating system has been upgraded this morning to “High Sierra” Version 10.13.1. So far so good, but my bookmarks were doubled up in the process, forcing me to rebuild them. I even lost one of my fonts that I use, or it’s hiding at this time. 

On November the 7th, 2017, the DJIA saw its last high at 23,557. As much as I would love to start posting a bearish wave count, this market has not declined enough to make the case  for a large bear market just yet.   We just slipped off record highs and I use Submicro and Micro sequences to make sure I start off small. The worst mistake we can make is to start with a much higher degree, which seems to be the popular thing to do. The higher the degree the more they can manipulate us by using fear tactics, with insane forecasts. 

By midweek this rally may top out, if not sooner and another leg down should happen. Worst case scenario is that a triangle is still going to form, which can push this market higher again. 

The majority will be looking for support, but when they do we know they just have a market correction in mind.  The only real support that will mean anything is the one that finishes the anticipated Cycle degree bear market,  as all other price support  levels will just be wishful thinking.

Just to get the bulls scared enough, we need the DJIA to fall below 15,500 which is just the previous 4th wave of Intermediate degree. The intermediate degree doesn’t correct a Cycle degree bear market, as at a minimum, we need the previous 4th wave of Primary degree.  Without a doubt, markets can fall well below the previous 4th wave, which the super bears are already predicting. DOW 5000 seems to be a good number to rant about, but what if it never gets there? 

Many missed the bull market that started in 2009, leaving a gain of 360% on the table. Many are convinced that this market is still going to the moon and have been brainwashed to believe a new era has started.  At the next major market low, you can bet the same setup will happen as what happened in late 2008 and early 2009.  Only a very small minority will see the writing on the wall when money flows start.  When the insiders start buying their own stocks back again., then a few months later, stocks will start to reverse. 

No matter how bearish of a wave count we may have at that time, our bearish wave positions will get trashed and the SC and GSC degree wave followers will be left behind again, or at best have a token position.