DJIA Follow up

Fig 1 DJIA Weekly Chart

What can I say about DJIA? Actually nothing much at the moment. It broke through the wedge envelop and is fulfulling its objective.

One thing that worth mentioning though is the indicators RSI and Stochastic on weekly basis is bottoming (no, not really at the bottom but soon). So there is a higher chance that DJIA having a correction with a "B" wave. It is also very close to its 23.6% retracement level.

On daily basis, the indicators formed a potential divergence, so it is highly possible that correction to happen the following week.