Dow Utilities Could Find Crash Bottom - Part Two
Within an Elliott five wave impulse pattern, wave "one" is usually equal to wave "five".
On the daily Utility chart wave "1" = 145.83 points.
The wave "4" high is 773.49 - 145.83 = 627.66 as target for wave "5" bottom.
The DJU rally from March 2009 to February 2020 was 675.14 points x .50 = 337.57 points.
All-time high was 963.80 - 337.57 = 626.23 as target for a bottom.
The DJU rally from September 1974 was 905.87 points x .382 = 346.04 points
All-time high 963.80 - 346.04 = 617.76 as a target bottom.
The November 2016 bottom was 616.96.
Target range for DJU crash bottom is 615.00 to 628.00
Mark
On the daily Utility chart wave "1" = 145.83 points.
The wave "4" high is 773.49 - 145.83 = 627.66 as target for wave "5" bottom.
The DJU rally from March 2009 to February 2020 was 675.14 points x .50 = 337.57 points.
All-time high was 963.80 - 337.57 = 626.23 as target for a bottom.
The DJU rally from September 1974 was 905.87 points x .382 = 346.04 points
All-time high 963.80 - 346.04 = 617.76 as a target bottom.
The November 2016 bottom was 616.96.
Target range for DJU crash bottom is 615.00 to 628.00
Mark