Dow

Slight poke out of an expanding diagonal suggests time for a decline. Interesting times on the Dow with it trying to decide what it is going to do. Firstly, on the first chart the bottom bar in the sub-chart is red - this is the 25day trend being below the 50day trend line. However, the 25 day trend is actually positive at present as can be seen in the main chart - thick red/blue line. In the 2nd chart, the 50day MyWave is getting thrashed about and if you look carefully, this is also blue for bullish. So we have 2 trend lines of some repute both bullish but in a bearish stack. I'll take this as a retracement in a bearish trend as a result, but acknowledge the reverse could be true too. My EW count is on the 2nd chart and has not changed since last week, albeit the guess as to how matters might pan out, seems to have come good so far.