Dow Jones (INDU) Short-Term Elliott Wave Analysis May 11, 2015
Decline to 17732.04 completed wave X and the Index has since moved higher. From wave X low, the rally took the form of a zigzag a-b-c, where wave a ended at 17973.07, wave b ended at 17910.15, and wave c of (w) completed at 18205.23. Wave (x) pullback is currently in progress towards an ideal target of 17843.94 17969.54 (50 76.4 back of wave (w) rally). We dont like selling wave (x) pullback and expect buyers to come at the area above for continuation higher or at minimum 3 waves higher to correct the decline from 18205.23.
Please feel free to join us clicking HERE to sign up for an ElliottWave-Forecast suscription plan! Or you can sign up for a 14-days trial, (no commitments, cancel anytime).
Decline to 17732.04 completed wave X and the Index has since moved higher. From wave X low, the rally took the form of a zigzag a-b-c, where wave a ended at 17973.07, wave b ended at 17910.15, and wave c of (w) completed at 18205.23. Wave (x) pullback is currently in progress towards an ideal target of 17843.94 17969.54 (50 76.4 back of wave (w) rally). We dont like selling wave (x) pullback and expect buyers to come at the area above for continuation higher or at minimum 3 waves higher to correct the decline from 18205.23.
Please feel free to join us clicking HERE to sign up for an ElliottWave-Forecast suscription plan! Or you can sign up for a 14-days trial, (no commitments, cancel anytime).