DJIA update

djia dec 8 2012

Presently the best guess for a peak in wave 2 and the timing is around 13300 – where we reach the wave 4 of previous degree and where c is about equal to a within wave 2 – and either side of next weekend , 14th or 17th of Dec. This assumes that we are in a wedge and are presently nearing the peak of wave 3 with 4 and 5 still to go. Furthermore the RSI needs about another week to get into the “overbought” level from which a turn is more likely. As always, time will tell.