View: Dow monthly 2.png

Dow monthly 2.png

Monthly log DJIA One last chart. Then I wont bother anyone again for a few months. I like this last chart as it forms such a great channel. (which really doesn't have anything to do with EWT for all you EWT mockers out there). As I have said before never try to trade on EWT counts alone. You will likely lose. But for me it just tries to help me anticipate. Have a great week. Tom B


Tom - in between the last 3-4 wave was irrational exuberance (where it went beyond the upper channel lines?)? 8/8/15
Good point. That is supposed to be the nature of 3rd waves. So this kind of thing I don't think this is rare at least in the way I see things in hindsight. Emotion of course is important in all of this stock motion. Irrational exuberance leads to something being overpriced which leads to consolidation (2nd and 4th waves). 8/9/15
Your channel alone makes this chart more interesting and useful than 99% of the charts out there. Good work. 8/10/15
Thanks Dink. 8/11/15