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BUZZ- DJI: From hot to not
2017年8月10日 / 下午5点40分 / 3 个月前

BUZZ- DJI: From hot to not

** Fortunes quickly changing for DJ Industrials, index down 0.8 pct WTD, on track for its worst weekly performance since mid Apr

** Reckoning occurring after DJI just ended streak of 9 straight record high closes on Tues

** Indeed, volatility rears its head, VIX hits 12-week high amid escalating tensions between the U.S. and North Korea

** That said, on Thurs, Boeing, DJI biggest positive influence this year (nearly 25 pct of rise), on losing side

** Apple and Goldman Sachs largest index drags

** While more defensive McDonald‘s, Johnson & Johnson, and Coca-Cola show resilience

** Meanwhile, on an Elliott Wave basis, if DJI has completed wave 3 from Brexit-panic trough, index now at risk for its largest corrective downturn since advance began in early 2016

** Retreat to 23.6 pct Fibo retracement of wave 3 rise (20971.73) would call for 5.4 pct sell off. Chart:

** 38.2 pct Fibo retracement (20224.79) 8.8 pct decline from high

** Additionally, rising 200-DMA (now 20465), and Apr trough (20379.55) within zone defined by these Fibo levels

** Push above 22179.11 high would instead suggest wave 3 not yet complete, further advance

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