The $DJI has certainly gone much higher than I expected it would.
My mistake was counting the B wave as the first wave of the primary bear market [C] wave (chart coming soon)
My adjusted counting, now qualifies the peak at the end of October as the completion of intermediate wave A and the subsequent decline, ending in late November, as wave B. From that point forward the market has been in the midst of a powerfully unfolding C wave of intermediate degree, which as may be seen on the attached chart as a five wave structure. Within this structure was a very long third wave extension.
As a result, minor wave 1 of intermediate wave C, will tend to be similar in amplitude to minor wave 5 of intermediate wave C. However, I am looking more closely at the fact that this intermediate C wave is, at the close of the market today 87 points away from $13,329.54, which equals 1.618 x (length of wave A).
This next prediction is, as a result, very short term. I believe the market will move up roughly another 87 points before completing wave 5 of minor degree and wave C of primary degree. If the price level moves past this point, my next closest guess would be that the market would go to $13,759. Though I doubt it will reach this point, this C wave has surprised me before.
Prediction: DJIA at $13,329 before return of Bear market
Secondary Prediction: DJIA at $13,759 before return of Bear market.
All the best,
Warren
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