At the five-year anniversary (a Fibonacci turn-year) from its historic print high in October of 2007, the Dow is threatening to mark another October cyclical peak.
From a fresh historic high in late September, the Apple bellwether is also threatening to mark a lasting high of substantial import.
As we continue to have great success in charting both of these markets, we have decided to share with readers grounds for considering plausible tops of significance in both.
The Dow
In short, the case for a plausible cyclical top in the Dow rests upon the downward impulsive footprints left in the wake of recent declines. From the October 5 high at 13661.87, the Dow fell impulsively to the first pivot low noted at 13296.51 on the chart below.
A 78.6% retracement rally to the 13588.65 pivot high occurred swiftly thereafter, but quickly gave way to another five-wave impulsive decline to a fresh new low on Friday October 26, which also happens to be a suspected turn-date. We warn that this may be setting up a bearish nested series of 1st and 2nd waves.