Tops in U.S. Indexes.
We called a top in US Indexes on 5th October 2018 looking at the 10 minute chart. This is the post below.
Dow Jones Industrial Average Elliott Wave Analysis. As on 5 Oct 2018. CMP 26,627
Something important happened in DJIA in the last 2 days.
- On Oct 3, daily candle formed a doji. Based on post triangle thrust measurement, wave 5 is complete at 26,951
- On Oct 4 (yesterday), on the 10 minute chart, there is a clear 5 wave lower.
It appears we have a long term top in the Dow Jones as well. Price should soon gain momentum to the downside.
Long term downside target for the Dow is below **restricted**. We are looking at a steep fall in U.S., Indian, and World markets.
Charts are showing completion of wave 5 on multiple degrees of trend. In the U.S., wave 5 has completed on **restricted** degree. Expect rapid deterioration in financial conditions thru out the globe for the next **restricted**.