DJIA New Record High Update

Early this morning the Mini DJIA created a new record high of 24,531 and has now backed off a little. From the mid November low at my Minuette degree 4th wave bottom, the DJIA exploded. This is not an impulse 5 wave run, but is a diagonal 5 wave run, with a few extensions thrown in to add to this 5th wave extension. 

We also have a huge open gap just below this peak, so it should not take too long for this gap to get closed. The peak number to beat now sits at 24,531. If we add another 1.382 to this peak we get close to 33,901. This is about as close to 34,000 that we get get, but that target will never get hit on this trip, which started in March of 2009. 

From my perspective, it is extremely important to know exactly where we are counting from, otherwise we really can’t figure out where we are. My concern is the entire set of 5 waves in Cycle degree, as without those locations being found, it is impossible for us to be in any higher degree. SC and GSC degree forecasts will mean nothing as  those numbers, is just a number picked out of thin air.  Forecasting doom and gloom is designed to strike fear into investors’ hearts, so they can sell more subscriptions. 

I have seen wave counts in the DOW starting with the peak of 1929 which has about 9 locations with unknown wave positions labeled on it,  yet it is a very popular site.  All it takes is one questionable wave count in our past, but nine?? Give me a break people!!

For those that just love to take the SC and GSC degree punishment, then my site is not for you. I maintain about 10-15 Gold/Ratios which is a big help when we have to judge when some asset class is expensive or cheap.   This morning the DJIA reached another record extreme at 19.27:1, which means it takes 19.27 gold ounces to buy one unit of the DOW, and it is the most extreme expensive ratio that I have calculated out. On the cheap side of the DJIA,  we need to get closer to 7.19:1, which may still take about 3 years. 

 

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