Finally, the DOW had another price failure and is now pushing into new bearish territory. I’m sure it’s just a matter of time before investors start a mini panic. A mini panic is when a group of people all “See” the same situation and start to act at the same. Most of the time they “Panic” at the wrong time which usually turns into a short term buying opportunity.
The Mini DJIA sure had a wild counter-rally in May which now has completely retraced itself. The media turns bullish while the pattern suggests that just a mini bear market rally has occurred.
The SP500 has about the same pattern, while the Nasdaq displayed a much better flowing 4th and 5th wave. It may take until June for this last part to play out but either way, my 5 wave run in Minor degree, will have to come to an end.
Another Intermediate degree is next on the list and even that may not be any bigger physically, than what we are looking at right now.
The trade war continues but now it’s all about Rare Earth Elements and the Energy Metals.