DJIA update

Now that we are getting more data, I think what has played out is as shown below: a giant ending diagonal on the DJIA covering the past 90 days.  As I have noted multiple times in these pages, sometimes these "ending diagonals" have a failed 5th wave that ends mid channel. 

Since then, it looks like 5 waves down into red 1 followed by some part of 2 which is hard to discern at this high level.

Zooming way in, the C wave is likely over or nearly so (within 10-15 DJIA points).  I would have preferred a perfect kiss of the 38.2 from below but I think a move back to the 61.8, while possible, is lower odds at this point.   We will know a good deal more tomorrow. 

 

The herd really doesn't want to plunge into the river that it has to cross in order to go south.  It senses danger in that path and it knows the water is full of crocs.  But at some point the herd does have to head south for the winter that is coming and the early wildebeests at the banks are being pushed into the waters by the mass of bodies piling in behind.  Each time the herd has wanted to cross, there were just too many crocs out  in the water.  As the herd moved up the river to try another spot, the crocs have moved as well.  Again, this is a king and a rook vs. a king.  The game can be stalled a bit but only through mistake of the K+R side can the game become anything but a win.  

We crocs that are still alive and still following the herd; 

We crocs that haven't thrown in the towel like Dennis Gartman and Hugh Hendry and many other of their exalted ilk, 

We sun-hardened crocs who slip under the water and move off, but never far off, each time someone on the banks throws a rock in our direction; 

Yes, we crocs will have our day and soon.  

And when we do such a feast it will be as few have ever been before.