By now, we suspect it is obvious to most, that state sponsored central banks have been aggressively propping up (rigging) all financial markets by whatever means necessary. In case you had not noticed, free market capitalism has been absent for several decades now. What we have instead, is a growing police state of global fascism. Ultimately, in due course, the ongoing desperate measures of such corrupt forces will result in another catastrophic failure far worse than the last. Until that final-tick passes across the tape, there is no limit to the contrived market extremes occurring on many exchanges.
As noted on chart at the green up-arrows, the 18721 and 19725 targets shall remain defended so long as the market trades above the falling green trendlines from which each of these targets has spawned. In addition, we have derived noted targets of 17796 and 18151 via Fibonacci price extensions calculated from key pivots within this long-term monthly chart.
Technically, having no choice other than to ignore the fascist rigging of what should have otherwise been a complete collapse in the financial system circa 2008-2009; we are observing the 6469.95 bottom as an A-wave of Cycle dimension. The five-year miracle that follows, is tracing out a larger three-wave advance as defined by the primary degree red labels of A, B, and an eventual wave C, which remains in progress. Plausible turn months of interest on the chart above come to fore in March 2015, and August 2016.
The opposing tan trendlines represent a large expanding wedge pattern of which the Dow is presently breaking above in bullish form. The lower falling boundary to this expanding wedge registers south of Dow 6000 in the years 2015 and beyond.
In closing, the chart above takes a closer look at some prospective turn months remaining for the current calendar year. The present month of March 2014 marks the first of three nearby turn-months followed by August and October of 2014. Also noted on this chart is an additional upside price target of 16600.
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Until Next Time,
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