United Technologies is a poster child for the military industrial complex. Unfortunately, it is also likely a model for the entire stock market. This model strongly suggests to me that wave 1 or A which began for UTX back in March of this year is about to complete a 5th wave down. The count is very clear and in fact text book Elliott in many ways including parallelism the 3rd wave gap, the 4th wave triangle. It's all there for anyone with the eyes to see it. I expect to see a rapid finish for this 5th wave down and when it is complete I think it will do a strong 3 wave bounce/ At the very minimum it would be to the level of the prior 4th but keep in mind that this would be a 2nd and so it could be deep vee, perhaps even to the 61.8 fib to close the gap at $110.
After that, the chart suggests strongly that someone is going to dump a load of chemical weapons into UTX's lap and then detonate a suitcase nuke on the shares, metaphorically speaking of course. When the 3rd wave down hits this thing it will go from global power house to squeaky little mouse. The military industrial complex has now power except that which can scare the people into letting it have and folks, a conservative herd doesn't scare nearly so easily as a liberal one does.
It's looking more and more conservative every day in these parts.
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