Double bottom on the DOW

[Rams]

Christos. If low below 10896 on DOW, then wave 5 likely to follow(used price difference on wave 2 to get 10896).What do you see.

[#2]

I agree the dow probably in wave 4 correction.I dont think it is complete as yet.I count a big zig zag started on 5 november.The A wave down completed 16 november.B wave could have completed on 21 november but i am not sure.We either still in B wave up or started C wave down.If we are in the C wave down i still miss another WXY wave down that should start any time now. My target 38 % retracement for this is 10825 for the dow. The alsi also in wave 4 down but presently in wave B up or just complete.Target for wave C down 26700 alsi futures.

[Shadow_W]

Personally I havent Simon, but I read a research report which plotted the number of times over a rolling 50-day period that the FTSE/JSE All Share Index moved in the same direction as the Nikkei, Hang Seng and S&P 500 indices. Although historically the S&P was last of the three,over the last 6 months it had come first. Still its not a real correlation calc.

[Rams]

Your analysis is more detailed than mine.I just look at the pattern to determine trend or correction or correction within the trend.Wave 5 is the key I think. Which waves do you trade and what are the other technicalas that you use with Elliot waves.

[Mar-11]

http://www.bloomberg.com/apps/quote?ticker=INDU:IND and then in top right type TOP40:IND,