On Monday we saw a new all time high for the S&P 500 Index, but this new all time high has not been seen for the DJI. If this divergence is a warning that DJI soon will rally to a new all time high or it's a warning that a major long term top is just at hand is still blowing in the Wind. However, a break below support at 16,093 and more importantly a break below support at 16,006 will indicate that a top likely has been seen and the E-wave decline of the major expanded triangle could be developing.
I'm looking for a major E-wave decline, but if it has begun is still uncertain, but be prepared for the worst.
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