Thursday, August 14, 2014
DJIA wave 2 update.
Wave 2 could well be over today. Andrew's Pitchfork channel analysis shows 5 waves rising into a narrowing channel. I don't expect this 5th wave to extend but it is possible that it does an a-b-c to prior 4th and then turns around for a new high. C is shorter than A still in the DJIA wave 2. We will know a good deal more tomorrow but they could easily finish the week on a high and then allow the sell off to begin next week at the open, thus punishing anyone who did not hold short over the weekend. Time will tell!
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