INDU’s ending diagonal…

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INDU’s rising ending diagonal (ED) is loud and clear, and very bearish. A rising ED is (VERY) bearish and is usually followed by a sharp decline retracing at least back to the level where it began…. Given that there are 2 trendlines, blue and black, and and ED consists of 5 waves (abcde), we’ll likely see a retrace to the blue line for d, then one more thrust up for e. This equates on the SPX for intermediate iv and v and major 4 and 5 on the NAZ/COMPQ to finish Primary III. Almost there 😉

indu ED 07082014


One thought on “INDU’s ending diagonal…

  1. Pingback: INDU: upside limited due to rising wedge (Ending Diagonal) formation | Intelligent Investing

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