ChapmanWave

The Dow and IWM remains weak, and need to start a sustained rally ASAP, to join the leading QQQ and SPX.

Big divergence as the QQQ makes a new ATH, and the Dow has its sixth down session; making a reversal by Friday in the Dow key.

The Dow is now right at a support level that needs to produce a bounce that is sustained into the close.

Will the Dow fail at a Peak-C, or at least try to rally toward the 45000s here?

While there should still be a new Leg-D in the daily Dow, the SPX and QQQ have been making new ATHs.

We prepared yesterday for any contingency today. Let the dust settle after the coming economic reports.

As anticipated, the Dow formed Leg-C daily, at an ATH. Now we expect a Peak-C soon, and then Leg-D -- where we assess for any potential tidal change.

While the Dow was weakish yesterday, there should still be a higher high for Leg-C - probably this week.

With Dow Peak-B a rally over 45071 is needed to start new Leg-C; the SPX is already in Leg-C.