DJIA Focus 6.27.14

Yesterday the DJIA put in a sequence (highlighted in blue) that hints at a more extended move in that direction.  The simplest retrace would be back towards the ATH’s in wave black B of a flat retracing a minimum of 90% of wave black A.  A combination correction in blue would be the least likely as a result of the S&P 500 not retracing the 23.6% for it’s presumed fourth wave and the odds of that weighted at 15%.  A running triangle wave B in red is still a very viable option as well.  Ultimately I’m expecting more lows it’s just a matter of whether we go sideways and then down or retest the highs and complete a round trip lower.  Either way I fully expect black C/Y to be realized.