The updated chart and model are below. Avi is thinking that this is going to do a higher high 5th wave from here. I just don't see it and I will also note that Avi didn't see the DJIA peak either (neither did EWI). In fact I called both of them out in these pages saying I thought the market were about to head south. So Avi might be a little out of tune with the markets right now. It happens you know. One has to be in tune with his own emotions not to go out of tune with the markets when doing EW counts. Unfortunately I have found that you cannot actually enjoy doing EW and still win. You have to turn it into an exercise and not get very excited for very long or you will go out of tune. Don't ask me the fundamentals behind this, I don't know what they are. But I have seen it and had it happen to me too many times for there not to be some kind of truth in it.
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