S&P, Dow and DJT

S&P may 10 2018Dow may 10 2018DJT may 10 2018

Here we have the S&P, the Dow and, for a change, also the DT Transports.

The has the clearest triangle. It is symmetric and looks pretty good. To be complete the thrust has to rise above the black line, the top of wave d. The Dow is roughly in the same position but needs to rise a little more. The transports do not have a triangle at all, at best it is a range and it is far from breaking out to the upside.

So far the move up does have some of the characteristics of a thrust. It has been up quite relentlessly for two days now.  If it does prove to be a triangle we should shoot up by about the measure of the “mouth” of the triangle. Then it is straight back down. We will see. This is a case where you do not want to count your chickens even one minute too early.