[DJIA] update

At the backlink I was modeling the next wave to be 5 down which would be good indication that the early November peak was going to be the peak.  The implications were that downward movement should accelerate.




Today's action was in the right direction but not yet definitive.  This could still be E of 4 per the count below.  The red path is now primary by a very small margin and for one reason only:  The wave bottomed with a unicorn tail to what could be counted as the 50 fib of red W3. 

But since then it only rebounded A-B-C.  Thus I think it is dancing on a knife blade about whether to get euphoric one more time for no good reason or to begin a southward stampeded, again for no good reason. 

Which ever way it gaps tomorrow will be the likely winner of this contest.  I suspect that if China tanks overnight again that the scales will tip blue but for now it's 52% red 48% blue.