My Dow Jones Elliott Wave Count 2021
My Dow Jones Index Elliott Wave Count 2021
Hello Traders Hello Traders
Some of you may be interested in what my
Elliott wave count pointed to in 2020 before
watching my DJI wave analysis 2021 update.
Here are the details:
Elliott Wave Analysis Stock Index Dow Jones Index
Link: • Elliott Wave Analysis Stock Index Dow Jone...
Today I would like to share with you my first
Elliott wave analysis for the Dow Jones Index
in 2021. Normally, I begin to analyze all the major
indices from mid February at the start of a new year.
However, that is not the case this year because I
believe this year is unique, and will create many
surprises as many begin to short sell the markets
without waiting for the laggards (many financial
instruments that are still waiting to hit their post
pandemic price targets). That is another story that
I will talk about another time.
Previously, on the monthly chart, I have counted five
waves that form the motive wave (trending phase).
I put questions marks on both the fourth and fifth
waves because the price-action can still give us more
food for thought. I was expecting an expanded flat
correction after that motive wave (trending phase).
My target for the B-minor wave of that expanded flat
correction is at 32573. Just highlight the 138.2%
Fibonacci extensions of the 5th wave.
As I have said already the markets is likely to surprise
many courageous short sellers. Note that at the time
of this recording (9 May 2021), Dow Jones Index (DJI)
has exceeded that 32573 price target. Note also that
it has now climbed above the 161.8% Fibonacci extensions
of that fifth wave.
ATTENTION PLEASE
One must wait till this month of May 2021's candlestick bar
is closed before validating the close above that 161.8% Fib
extensions 34497 of my fifth wave (5th wave with a question mark).
What Can I Say To Elliott Wave Traders`?
1/ Priority To Bullish Signals Above 34497
2/ The dark bearish zone in my opinion is below 32573
3/ If the Dow Jones Index fails to find a support above
that 34497 and dips below that 32573 within few months
then that will signal the formation of the C-minor wave of
the expected flat correction.
4/ The price can still consolidate between 34497 and 32573
for a while before rising fast to the surprise of many short sellers.
5/ Personally, I will not engage in selling Dow Jones Index in the
next sixteen months (up to August 2022). That is my opinion
and it is only my opinion. Please note that I can be wrong like
everybody. Of course day traders will play with the short term
price fluctuations.
Where Is Dow Jones Headed?
I am glad you have asked that question because the price is always
headed to short, medium and long term price targets. Therefore,
one can not afford to not-know those targets.
Without too much bla bla bla here is the long term price target
that all eagle-eye Elliott wave traders are looking up to.
Please hold your nose and do not laugh too loudly because it
will be a shock to many. Ready?
In my opinion, from the mid to long term horizon,
the Dow Jones Industrial Average will hit $40000.
Please note that the price does not rise in
a straight line. Also nobody can tell exactly how long it will take.
One more thing please. Dow Jones may never hit that price target.
All we are doing is to flow with the price-action using a top-down
trading method without assuming anything because anything is
possible.
So there you have it. Dow Jones may hit $40000 level
within sixteen months if it builds a sound support
above 34497. Of course all bullish hopes will begin to
fade quickly if it dips below 32573.
I will review the Dow Jones Elliott wave count once it
hits that $40000. Please do not be surprise if it continues
to rise even above that $40000 for a while after surpassing
it. That's the "woah" effect.
Please draw the two pitchfork tools on the monthly chart.
Draw also the levels 34497 and 32573. Please keep the left
hand side eye on the NASDAQ 100 index because it has served
as a very good indicator lately.
Do not remove that line at 29253.
Please do not forget that I did put a question mark on both
4th and 5th waves. Remember that the Elliott wave count is
always one step at a time without rushing ahead of the price-action.
Alright, I have said enough and I hope this recording will be useful
to many Elliott wave DJI traders.
Please like the video and put a big smile on my rounded face if this is
a useful work. Hit that dislike button if you think I still need
to work harder than that.
I wish you the very best in your trading and investing.
Until the next time, enjoy yourself and be very happy.
HTTPS://WWW.24ELLIOTTWAVES.COM
Video: Elliott Wave Analysis Stock Index Dow Jones Index 2020
Link: • Elliott Wave Analysis Stock Index Dow Jone...
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