DJIA update

DJIA dec 6 2012

This is little more than a wild , but educated, guess. I am assuming we are in a second wave and that that second wave will be the usual a-b-c. Also, as we lately have so many wedges , I would guess that the c is also going to be a wedge. The whole thing would end up looking like this. Note that the correction has already travelled about 50% of the drop in wave 1 and that 60% is around 13250. These Fibo ratios are useful for making guesses when there is nothing else to go buy, otherwise there is no compelling reason why these levels should be met exactly. Moreover if the experiences of the past are any guide at all, this index will try to get back up as far as possible. The only thing it may not do for this interpretation to stay valid, is move above 13662. As always, we will see.

The DAX has already made a new high as of today!