Tuesday, January 5, 2010

1/5 - E-Mini and DOW : The Bullish Counts Revisited

Previous E-Mini


Current


Previous DOW


Current


Remember these counts? I show the Minis either in it's final 5 wave structure up to complete wave 5 (highlighted by black-dotted line) or the alternative is that subwave 'a' of 5 is in the works/near completion. If the alternate is in play, then subwaves 'b' and 'c' should be next on tap (highlighted by the red-dotted line).

As for the DOW, I would say the same situation applies. The only issue here is that of wave 3 being shorter than wave 1, which is an EW rule violation and a "no-no". However, given that the Mini does not show this, I will assume (for now) that this does apply since it is wedging.

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