Boeing leading the way down.

In line with my earlier views that BA was about to go down in flames, Boeing Aerospace is our early loss leader in these early stages of the DJIA collapse.

It's chart tells the reason why: after peaking in an ending diagonal throw over, it did wave 1 down, bounced with a vee bottom right at the support of the top rail and then did the 3rd wave cliff dive with gap down to take out the top rail for good.  BA is not going to see these lofty prices for another decade at least IMO.  When DJIA leaders like BA show this kind of technical breakdown it lends credence to my overarching bearish model of the entire stock market.  When that lower rail gets taken out, people will begin to get very fearful again.