Market Report: Elliott Wave Analysis of Dow Industrials via DIA

By: Nouf | Sun, May 4, 2014
Print Email

The trend from Oct 2011 is likely in its final stages, it appears wave [5] could be a possible ending diagonal so we are monitoring a potential bearish wedge shape, the RSI appears to be confirming the advance being a 5th wave terminating rally.

Once completed we are looking for opportunities to sell the DOW either by selling the market directing via the YM (e-mini futures) or potentially buying puts.

A great opportunity I suspect is close by and although I am initially targeting the 145 area, the potential for much more downside could suggest targets well under 130-120.

DIA Chart
Larger Image

Until next time,
Have a profitable week ahead.




Author: Nouf


The information written in this article should not be used for any trade recommendation. accepts no responsibility for any losses occurred for any results or actions taken based on the content from this report.

Futures, stocks, Forex and commodity trading carries a high level risk and may not be suitable for everyone, any readers of this article are STRONGLY advised to contact a licensed investment advisor before making any financial decisions.

Copyright © 2010-2017

All Images, XHTML Renderings, and Source Code Copyright ©