The break below fridays low at 10,561.66 adds favor to the picture of the top finaly being in place with the 10,729.82. The current rally would then be wave 2 which should find resistance in the 10,623 - 10,649 area for the next decline under the wave 1 bottom at 10,517.38 for a continuations to at least the 10,279 - 10,304 area.
Whats adds to the bearish case is, that none of the other indices made a new high yesterday. Leaving DJI lonely at the freezing cold top...
BUT! Until we see the break below 10,517.38 we are once againe presented with an alternate count, which I have shown below. This count has wave 4 ending at 10,517.38 yesterday and one more new high should be seen in the next couple of days.
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