2019-08-05

DOW JONES

IN THE NAME OF ALLAH THE MOST GRACIOUS THE MOST MERCIFUL
 DESPITE THE PRICE ACTION  HAS EXCEEDED THE 50% RETRACEMENT AREA AT 26000 BUT THE  BULLISH 5-0 IS STILL VALID SO FAR, THE OLD OPINION TO SCOTT CARNEY WAS , THE PATTERN FAILED WHEN THE 50% RETRACEMECNT HAS BEEN EXCEEDED  BUT THERE IS AN OPPORTUNITY TO SELL AFTER THIS VIOLATION WITH A MINIMUM TARGET OF THE IMMINNENT 88.6% RETRACEMENT , BUT RECENTLY ,HE SEEMS TO HAVE  CHANGED HIS MIND, AND CONSIDRED THE PATTERN STILL VALID,
IF MY ELLIOTT MAIN COUNT IS TRUE AS SHOWN ABOVE, I DO THINK 25250-25700 AREA IS A REVERSAL ZONE, SO THE HARMONIC ANALYSIS AND ELLIOTT COUNT SUPPRT EACH OTHER IN THIS CASE