Below is my DJIA chart with the elements of the
Advanced GET Wave 5 Sell Signal imposed upon price movement the past few weeks. You can see that all elements of the
mechanical sell signal are now in place, with a target for the move of between
9200-9700 on the DJIA. Also noted is the reversal level of
10,120 which turns the
Daily Trend Following Model SHORT.The elements of a mechanical Wave 5 Sell Signal:
(1) A measured three-wave decline followed by a fourth wave advance;
(2) Wave four channel up into Fibonacci window (50%);
(3) Elliott Oscillator retraces from oversold back to the zero line (middle study);
(4) False Bar Stochastic Sell Signal (bottom study);
(5) Price break-down through trend channels to begin Wave 5 decline.
