Analysis: Dow Jones Industrial Average

RATING: STRONG SELL

Analysis Method: Wave Theory & Fibonacci

Currently, the Dow has completed Cycle Wave 1 and Cycle Wave 2. Cycle Wave 3 begun with a Micro-Wave sequence that featured an extended sub-wave 1.

Micro-wave 1 completed on Feb. 8th at the close on Friday. Most likely, the corrective Micro-wave 2 will transpire over the weekend.

Micro-wave 3 is expected to begin on Monday or Feb. 11th.

Above: Daily Chart (DIA)

The target area for Cycle Wave 3 is between $202-$169 which are Trend-Based Fibonacci Extension Levels 1 and 1.618, respectively.

Target Area

Buckle up!

Will update.

Option Trade: Coming Monday!

-The Humble Watcher

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