Subsequent price action resolved in a 5 wave advance with a lower high during September, and before you comment that the lower September high cannot be a fifth wave peak, well remember that I don't subscribe to any tenants of the elliott wave theory, rather interpret it as I see it, and I see it as a 5 wave advance with a fifth wave failure to make a new high. Where TA is concerned be FLEXIBLE and SKEPTICAL! For there is NO Holy GRAIL, on it's own EWT is a coin flop, if one keeps that in mind then one keeps their feet on the ground.

The fifth wave now implies a significant correction is likely, with the basic expected pattern being an ABC that should carry the Dow to at least 24,700 and likely lower, maybe even spike below 24,000.

The rest of this analysis that concludes in a detailed trend forecast into the end of 2019 has first been made available to Patrons who support my work. Dow Stock Market Trend Forecast Oct to Dec 2019

Stock Market Trend Forecast Current State
Yield Curve Inversion Current State
US Presidential Cycle
ELLIOTT WAVES
Short-term Trend Analysis
Long-term Trend Analysis
MACD
VIX
SEASONAL ANALYSIS
Formulating a Stock Market Forecast
Dow Stock Market Forecast Conclusion
AI Stocks Buying Levels

So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

Scheduled Analysis

UK Housing market series
Machine Intelligence Investing stocks sub sector analysis
US Dollar Index
NASDAQ
EuroDollar Futures
EUR/RUB

Recent Analysis includes:

And ensure you are subscribed to my ALWAYS FREE newsletter for my next in-depth analysis.

Your Analyst

By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.