Dow Jones Industrials (DJI): Wave 5 Still Not Placed

SUMMARY

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You'll begin to see that the SPX and DJI move in a very related manner; similar to how BTC and ETH are moving. That is largely due to the uniformity of sentiment which means that many owners of the DOW components also own the SPX.

The below chart shows a symmetrical triangle (red lines). The ABCDE waves seem also complete and price has likely broken out of the top trendline. IF this is the case, a renewed impulse up could be expected.

The higher degree of trend white waves 1,2,3 and 4 are now probably complete and that leaves white 5. The subwaves of white 5 are shown in blue and so far blue 1 and 2 could be placed so a renewed rise towards blue 3 would be probable.

Look how price is traversing so nicely within a channel; hence, most indicative of an impulse style move. the blue wave 5 is likely to target the upper trend line or close to it complete the white 5. This means that the DOW could hit 29,500 or maybe even 30,000. These numbers were forecasted late 2017 by @haejin in his blog.

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