Current Wave retrace

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 The Markets are currently retracing the last wave form (shown in turquoise). Some are deep enough to be completed but the Dow looks different.The charts are of the Composite and the I-shares Micro-cap sector. One thing that raises an eye brow is the Fact that the price action actually bounced Below the previous sub-sub-wave a's and b's. ....not good!  The original down wave (corrective) has 5 sub-sub waves,and then a 3 for an 'a' and than 3 for a'b' wave. This needs to be over and compared to the other sectors as an "Early Warning" Sign of the top.

The Harmonic Elliott wave calls for another wave up for v,(v) , of V. But If the current retrace goes Deeper than expected then It could very well Have a shortened wave V forming a double top. One other Harmonic Pattern that Supports this is
the completion of the AB-CD Triangles previously
Posted and in the "watchlist" of my main website
www.Hillmans-Harmonics.com

The Kijun-sen supports of the Daily Charts are also
at the 60 minute a/b waves levels,
Composite is 3808.37
Djia is at 15,258.55 and the SPX is at 1710.84.

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