DOW

MRA4, thanks for that mate, made my simple chart look very childish!

Glad we are on the same wave length.

I agree, I thought we were in a ABC move, current wave down to around 21000/21500, Wave C.

Going by this, do we still have 2 main waves until the big drop?

MRA4, I believe this is Wave C, what do you think?

Do you have a projected target? I'm thinking around 21,500.

Although there is a problem with this, if it does get to 21000/21500, we have dropped 20% from the high, which I believe puts us in a bear market. Does this compute with Elliotts Wave Theory?

DOW Daily

Looks to be breaking down again.

It's broken it's daily uptrend line.

I'd be interested to know too .. Ive got some ideas for patterns for lower targets on the Dax & FTSE nothing yet on the DOW ...

RichB,

What are your targets for the FTSE?

Dow looks like it's taking a hammering again, can't post a chart.

I think we are heading toward the main trendline Area & fib retracement levels, Below main trend line Level would be an area of concern, if there was not a bounce back upwards.

DOW Daily.

TF,

I have yesterday's high at 24,995, why was 25035 important please

Is it because it failed at the EMA20?