The previous big picture has been moved to the archives.
The Dow has a clear MAP Wave count top on the monthly pivot scale M-2.
Below you can clearly see the 5 waves off the 2007 bottom and that the top was made on the intersection of the monthly 345 MLU (upper bold gold line) and the latest W234 ML and is a text book top. In addition pivots often fall on the MLU, ML or MLL and their sliding parallels!
You can see below prices reacted within its normal wave cycle W345 SP, just piercing with last Octobers low.
This highlights a number of critically points.
Many analysts are complaining about High Frequency Trading and Market Intervention and manipulation! Using my interpretation of Elliots and Andrews work which is some 100 years old IT STILL WORKS TODAY! Why? Simply because all the manipulation and HFT and all other intervention IT IS PRICED INTO THE MARKET! Hence my trading rule of DO NOT TRADE THE NEWS!
Finally looking off last Octobers low
You can clearly see the daily, 4 hour and hourly wave formations and that prices are well within their normal expected daily trading channel. Once prices break below the D345ML and D125ML expect D-1 to be made around the intersection of the D345MLL and W234MLL.