It now seems very likely that the DOW will reach that mythical and much talked about 20,000 level.
A vast majority of media commentators and market participants will hail this as a justification to remain bullish forever!
I, on the other hand, am watching a train crash in very slow motion.
I have labelled the rally today as a wave i brown.
The market could already be working on wave ii brown which must complete above todays low.
There is another opportunity in the making here, eyes on this week.
The Italian situation sent a few jitters threw the market today with an initial 100 point dump then a 200 point rally.
The Wave structure seems to be an expanded flat correction, with a clear five waves in (c) green today.
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