DJIA Intraday Bullish Phase Update

The secondary bottom on the 9th of February is a bit truncated or short of breaking new lows while all other indices I cover did travel to a new low. I’m allowing the 4th wave to dip into my wave 1 in Minute degree at this time, but may have to change that at a later date.

Right now we have a small correction in progress, so it sure looks like another leg up can still happen during the rest of this month. The DJIA is about 1200 points away from hitting another world record high, which can be easily achieved once the DJIA moves “vertical” again.

On the first Friday of every month, the employment reports come out which can bring bearish news or very bullish news. Any bullish news that does not push the DJIA much higher would be a bearish indicator, as this bullish phase could run out of steam in the next week or so.

Hits: 9

Share this...
Email this to someone
email
Print this page
Print