Dow Jones Industrial Average Near Major Resistance
The Dow Jones Industrial Average (DJI) is nearing major Fibonacci resistance. When measuring large percentage gains, its more appropriate to compare growth rates.
Within Elliott – Motive waves there’s usually a Fibonacci relationship between the first and fifth waves.
Primary wave [1] had a growth rate of 74% multiplied by the Fibonacci ratio of .618 equals 45.73%. Adding 45.73% growth to the Primary wave [4] bottom of 28,660.94 targets 41,767.58 for the peak of Primary wave [5].
This target could be achieved on 09/03/24 or 09/04/24.
Within Elliott – Motive waves there’s usually a Fibonacci relationship between the first and fifth waves.
Primary wave [1] had a growth rate of 74% multiplied by the Fibonacci ratio of .618 equals 45.73%. Adding 45.73% growth to the Primary wave [4] bottom of 28,660.94 targets 41,767.58 for the peak of Primary wave [5].
This target could be achieved on 09/03/24 or 09/04/24.
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