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DJI (Dow) close on 3-16-01 was 9823 with a low of 9818.
With all this sideways action in the DJI my daily charts are useless
presently until we move out of this consolidation, so I have gone to a
weekly chart.
The first chart attached is in Original count and does not say allot other
than a Wave 1-2-3-4-5 is in and allot of ABC's have appeared. Note the 5/35
oscillator did go below 1.4 briefly on 3-3-01 which perked my curiosity to
take a look at Long Term count (thinking that point might be a wave C of a
Wave 4 ABC correction possibly (and maybe a wave A of a Wave 4 too), meaning
the Wave 4 would move over and that the 5/35 crowd lost control briefly. It
would also mean that this is a Wave 3 top not a Wave 5?
The second chart in Long Term count and the 10/70 oscillator shows a very
different picture. The Wave 5 becomes a Wave 3, an ABC Wave 4 appears at the
10-20-00 low and thus opens up the "possibility" that the recent drop is
just minor wave 2 of Wave 5 up?? Also few years back AGET tech support told
me to switch to Long Term count when "allot of ABC's appear". Is it possible
the worst may be over there as well??
On thing for sure we will know soon since the Wave 4 low of 9654 made in the
week of 10-20-00 should hold. This is just a possibly anyway and maybe a bit
of a reach too (?) but worth watching anyway in case it unfolds and that
9654 low "holds". If not "bombs away" for the DJI (Dow)?
don ewers
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