September, 1, 2017 DJIA E-Mini Intraday Bullish Update

The DJIA has now gone further than anticipated but is still well below the August peak. The DJIA could be crazy enough to breakout to another new record high, but that could still be many days away from happening. If and when it does break out, then this pattern would fit into another diagonal 5th wave zigzag.

The VIX has also plunged as complacency returns to the stock markets. When complacency rules then, it is also a setup for another bear attack!  There will be no rest for the bulls when they constantly get attacked by the bearish crowd, but that still may not kill the bull market in the short term.

The only money left in the markets comes from the bullish herd that is chasing this bullish phase. As long as it keeps going up they will ride this bandwagon, and  fundamentals be dammed.

I read that they are changing the way they calculate the DJIA  this week, which will be interesting to see if we can notice it on the futures charts.  They do this every few years or so, so it may never even be noticed.   Even when they take out or include new stocks in the DOW, the pattern hardly ever changes from what I have noticed. Harvey has wrecked havoc in Texas and I hope that things will get better as hurricane season dwindles and disappears. 

Hurricane Irma is on the way, but it is slow going as well. I get my information form the National Hurricane Center, which you can track hurricanes from their starting points. The National Hurricane Center gives all interested parties  the equal chance to see a hurricane coming 3-5 days in advance.


September, 1, 2017 Notice

In recent days it seems I may be losing all my free access to the futures charts. This will throw a major crimp in my style of wave counting, as I have to search for an alternate site. I may be able to work around it for now, but I see the writing on the wall where I will lose access to charts that I have used for close to a decade. Many sites have too many settings that can be a nightmare to learn, set up and simplify. I may switch to which Insidefutures are affiliated with. 

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