Dow Sine Wave Analysis

By Scott Hathaway of Pattern to Profit, LLC

Geometric technical analysis of global financial markets • Aug 21, 2019 at 1:29 AM EDT

This month's low of 25,340.55 bounced on both the support from the 20/8 wave and the preceding breakthrough price of roughly 25,500.

Updated Dow Sine Wave Analysis: As I correctly predicted, the market resumed the major up trend (at 'b') and the next wave provided resistance ('C').

The current market still conforming perfectly at this resistance. This month's low of 25,340.55 bounced on both the support at 'c' from the 20/8 wave and the preceding breakthrough price of roughly 25,500. This correlates to support and subsequent uptrend at points 'a' & 'b'.

(Click on image to enlarge)

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