Dow Jones $ indu

Of particular note today has been how price has moved into the trough of the FLD of the 2month moving average of the Daily Pivot. The blue Raff Regression channel is monitoring how matters are progressing and for now, we have not had a breakout of this down channel, although I am hoping from one soon enough as we are at the LTL of the 2 month red regression channel. Accepted, price has been pinging around the78.6% retracement line at 14968 of the last wave up, but notice how the FLD is already drawn ahead now to guide future prices. Will the 'b' wave run up the back of the FLD and then crash through, or cut it early via an ending diagonal and then zip up the other side in a 'b' wave to test the peak. For now, there seems to be some oversold momentum to burn off, but I think up and cut, rather than cut and up. We shall see.