chart: DJU 60min

Courtesy of eSignal

This 60min chart is suggesting that one leg down is finding support in the area of the June 2015 bottom.  This is also evident in the suggested EW structure of 5 waves down.  Over time this wave count can change if the count does not hold to the EW rules, so this "may not" be written in stone and must be watched for any changes in the wave count.  The trend lines are a very good confirmation of the direction in trend.

General Market Comments
After reviewing all 30 DJIA charts, it looks like the market is trying to find some kind of short term bottom.  This would also be in line with the recent short term update posted.  If we do find a short term bottom shortly as the short term cycles are suggesting then we may have an upward bias into the Sept10-13 time frame.  After that the short term cycles suggest some more action to the downside from Sept 10-13 to Sept 26.  More on this later.

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This has been posted for Educational Purposes Only.   Do your own work and consult with Professionals before making any investment decisions.  
Past performance is not indicative of future results