A wedge within a wedge

I normally stop my charting activity on Saturday, partly because I treat this a family day and by evening time, I would be drained by my two kids. However, today I am testing out something different because I want to relax tomorrow evening.


Fig 1 DJIA Daily Chart

I was going through what Dow Jones was doing this week when I noted the followings:

1)DJIA is completing a minor 5 waves after the 4th;
2)DJIA is creating a wedge;

I don't know, probably I am really obsessed with wedges, either that, DJIA is over due for fulfilling its promise to the huge wedge it is forming.

No doubt, it is not surprising that DJIA still heads North simply because it is still moving within the proximity of the wedge. Only when it crack the envelop support of the wedge that we would be certain that it would head south. Probably for now the most crucial one would be it cracking the smaller wedge.