Is this just a coincidence? (I don't believe in them).

First, here is my recent post on Intel (INTC) which shows that an expanding wedge is forming as the 5th wave of the 5th wave of the much larger expanding wedge that occurred since the 2009 bottom. The model chart from that post is reproduced below.




Now check out the DJIA weekly chart below.  Look familiar?  Yep, it's almost a clone of the Intel chart albeit at a much different time scale.  This is the fractal nature of the waves in play.   The similarities between them suggest that when the Intel chart peaks, the DJIA will have peaked as well.  Since MSFT chart is already headed down we are talking about days here, not weeks before Intel peaks and everything begins to turn down in unison.

The DJIA chart is already in a clear throw over within a throwover.  The Intel chart might already have peaked for all I know.  There is no law that says it must kiss the top rail much less throw over.  The main guidelines - that the wave have an a-b-c shape and that it create a higher high - are both achieved.

Maybe the chart is signaling that the con man Obama will give just one illegal executive order too many and congress will shut him down or begin impeachment proceedings.  How can the stock market con game continue to go up if confidence has been lost in the con men.

I say again, do not stray too far away from TVIX folks.  It could easily become your BFF real soon now.  If the Intel chart would just shoot up there and throw over the top of that small expanding wedge then I think it would be all down hill from there.  So maybe $37 or $37.25 is what would be good to see as a fantastic put options buying setup.