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 Special Elliott Wave Bulletin  (SEWB)

For July 23, 2009

The DJIA continues in unfold in more or less the same pattern as expected and as discussed yesterday.

The rally during the early hours of trade to 8950 and the subsequent selloff marks Wave Nos 7 and 8 in the rising Impulse wave. This still calls for a blow off rally (Wave No 9 ) to unfold. Expect the DJIA to show some bullish behaviour once again to move above 9000 on the charts, at which point it should in all probability start its downward trend again.

ANANTH J ACHARYA
 

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