The Dow Jones Utilities Agree with Our Analysis of the Markets
One precursor of a possible more important market peak could be the DJ Utilities Index, which appears to be nearing an important peak from an Elliott point of view. The Utilities are in their final advance after spending eight months within a contracting triangle. Seems as if the 4th wave of (5) is also in a triangle pacing itself for a year end rally. 2 measured moves are just over head where this market could finally peak after a four year advance.