Dow 07/09/01

ChartMan

Legendary member
5,580 46
Not much change here, but notice, again, the three increasing rates of change in decline, ending with a bottom and a small up turn.My prediction is an upturn of 100 points or so then heading south for another leg of the down elliot wave to 9200.Brave eh? Look at the line chart EOD and there is a clear 3 leg down formed so far, nominally 500 pts down 100 pt retrace and 500 pts down.If this is going to be a 5 leg down, 9200 is where we end up.Having regard to market conditions, I see no reason for any other possibilities.Time will tell.
 

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Naz

Experienced member
1,391 24
I agree with your feelings but i think the pullback might be to approx 9795 or 9870.Both of these are fib retracements of the last major move down
 
 
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