DJIA update

djia nov 7 2012 mdjia nov 7 2012 s

So we clearly broke out of the wedge to the downside. Actually today’s action was the worst in a year which just tells you how subdued this market has actually been. We now have 5 waves down, possible for an initial wave 1 down. Next should be a rebound, more or less to that same trend line after which the serious action should start in wave 3. This rebound the next day or so should be your last chance to get out . We will see.