Mini DJIA Intraday Record Highs Review.

So far the December, 4th peak of 24,542 has not been retraced just yet.  All futures contracts will be the March 2018 contracts. The DJIA produced a small double bottom and then took off in the northeasterly direction, the second bottom traveled to new lows by the slimmest of margins, so this makes it a potential expanded pattern.  This market can still head to new record highs, but with the same breath another new leg heading south can happen.

We are at very small degree levels so I start with the Micro degrees,  to look for impulse or diagonal waves.  Stocks are in a bubble, and investors love them, but the DJIA is not as crazy like Bitcoin is. Real stock manias happen in wave 3 peaks, and not that much in the 5th waves.  From the 2011 lows to about 2015 was “stock mania” as well, and that was a wave 3 move.

Once it becomes obvious that the markets are heading down, will they run to Bitcoin or gold as a safe-haven? Stocks, US dollar and Bitcoin chart prices are pointing up, as gold is pointing down. This situation has happened throughout market history, so it’s nothing new if we’ve done our market research. Being brainwashed into thinking a “New Era” has arrived or saying, “It’s different this time”  is a myth, as the only thing that is truly different is “Time.”

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