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Dow Components agonal breaths with chronic EW Terminal Impulses

SOFTWARE

 

Giant A-B-C Zig Zag Complete;   B-Wave triangle!

C-Wave Perfect 5 wave TERMINAL;  Strongest Reversal Pattern in EW

Big Picture in monthly has downright SCARY possibilities!

Hopefully it just retraces the terminal and finds final LT support at @ 26.

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RETAIL

Walmart already topped with its 5th Wave of its Terminal Impulse completed and this is first wave down now leading the way.  Doesn't have quite as spectacular upward wedge as others but it is there and its wave structure is complete

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Ughh missed this short entry with the pull back to the channel, too much to keep track of and I need to stop obsessing on trying to call the top in biotechs although I know we are close if not there.

APPL is starting its third wave down.  Notable that this GIANT actually put its top in way back

in 2012.

Next good short entry will be where the prior low and 200 DMA are converging.

If the Nas 100 puts in one last push up which is very possible may get lucky and have it

come back for a double touch of the channel line.

 

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Sorry I am so OCD with Biotechs but these charts are just freaking me out!

This is just one HUGE Terminal Impulse  as weird as it looks it fulfills all the EW requirements of an impulsion but it is absolutely TERMINAL with 5 of C topping right here!

 

Look at this thing from a penny stock to $80 since '08.

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Transports have much simpler clearer EW pattern than Dow, Comp, or SP.

Wave 5 leading to the Jan top is what you see in EW textbooks as examples of a Terminal Impulse.

They are the strongest reversal pattern in EW and rarely fail to reverse the major trend and they are quickly

completely retraced.

You can see the big red 5-wave lightning bolt all the way down to the terminals origin doing whats expected. Now we go back up in a countertrend A-B-C and that is again a textbook with  3-Wave irregular (B-wave extends past A) and Wave A = Wave C   FLAT.

Then look closely at the wave down to where we are, very fast and has that waterfall look and now we are in this little consolidation.

All things Elliott say we are going to break down from here...this little correction could go on a while and even pop up a bit but we need to enter the next wave 3 down.  I was watching it along with DOW, SP and COMP all at consolidation lower trendlines to break but didn't happen today. 

Until the Transports completely retrace this last water-fallish wave I can stick with my view we are on the edge of the BIG ONE!  

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EU   This is one sickly looking chart,  Serious damage from two crashes and very little recovery here.  Now perfect A-B-C corrective move up to stiff resistance at confluent FIB levels of both crash retracements.

Can we really be have a sustainable global boom our market suggests without the Europeans?

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I continue to see extensive evidence this market is closer to top than many believe.  Numerous foreign indices and many US sector indices are simultaneously up against strong resistant CV's and have clear EW patterns that are complete or very close to it.

I have posted many with A-B-C corrections against the 08 crash.  Also various corrective patterns ending in Terminal Impulses.

Also there are many that topped out months ago with Wave 1 or A down in and are completing there Wave 2 or B up and many are extended meaning they took out high but these are phoney and classic bull traps.  Also I am finding many combination corrective patterns. I can show you numerous examples from the Bush cyclical bull 02-07.  These patterns are quickly and heavily if not completely retraced. 

I was having a Coke and thought hmmm I haven't looked at KO lately and my eyes kept staring at this example of a complex double zig-zag correction   with  a diametric X-wave.  Diametrics either look like a diamond or a bow-tie.

Corrections also channel nicely, true impulsions do not that's why this whole move up is FAKE bull shit market!

It has fallen out of the channel and as is often the case forms a head and shoulders.

If market as a whole is showing definite reversal signals safe to enter on top of neckline, if not best to wait for the break and hope for the pull back which almost always happens.

 

Note the second zig zag A-B-C is smaller but exact .62 of first!  

I am here to prove EW is real and applicable to timing and trading markets.  It took me 12 years to reach my level of understanding.  One thing that is critical is looking at the BIG picture and having defined wave counts on foreign markets, currencies, bonds, commodities. One must pay a lot of attention as leading and lagging patterns decipher what is happening "under the surface". 

Time will ultimately be my judge!   
 

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Here is another freaky aspect of EW once your eyes are trained to spot them.  Fractal repetition, often almost identical patterns are found following each other as in this case or the smaller one is within the larger structure. 

The last wave or e waves in triangles often do this.  They mean a big move is about to happen and usually opposite the larger degree trend!

 

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