dow july 7 2018

We may have been a little ahead of ourselves in our previous blog on the Dow. It appears that the index is tracing out a fairly decent triangle which would imply that the first wave of wave 3 down was not yet complete. If correct the Dow should drop any moment now to challenge the intraday lows of the past five months only to rebound back to the present levels. Then wave 3 of 3 should start.

Perhaps Trump will try to pull out of  NATO and join the Warsaw pact instead.