The Dow and the NYSE, NYA update

DJIA jan 25 2013NYA jan 25 2013

Maybe just flogging a dead horse but here is the ’s wedge once again, and also a similar wedge for the NYA. We are intrigued by the NYSE index because, as is clear to see particularly if you enlarge the picture, wave 1 travels a greater distance than wave 3. Now wave 3 can never be the shortest. Ergo wave 5 must be shorter than 3 which implies that the index cannot go more than about 150 points higher. As throw-overs go, it is already ridiculous.