Dow Jones $DJIA Short-term Elliott Wave Analysis 6.9.2016

Short Term Elliottwave structure suggests that dip to 17331.07 ended wave (4). Rally from there is unfolding as a double three where wave ((w)) ended at 17891.6 and wave ((x)) ended at 17660.87 on 6/1. From 6/1 low, pair then continues to rally higher as a 5 waves diagonal. There’s enough number of swing to call wave (a) completed although a marginal high still can’t be ruled out to complete (a) before cycle from 6/1 low ends. Once wave (a) is complete, Index should pullback in wave (b) in 3, 7, or 11 swing to correct rally from 6/1 low before the Index resumes rally again. We don’t like selling the proposed wave (b) pullback.

$ INDU 6020160608220143

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