Update – Dec. 22, 2014

Given the strength of the rally today, with the Dow making a new closing high, I’m putting the Three Peaks Domed House count back on.

Dow three peaks domed house

A description of an idealized pattern can be found here.

If Points 3-7 span roughly 8 months (which is the case for the current instance), the rally from Point 14 to Point 23 is supposed to last 7 months and 8-10 days. In our case, Points 11-14 are missing. If you count from Point 10 instead, a top could be predicted for late-May 2015. By that time the Dow will likely be above 19000.

For the time being, I think the Middle Section described in previous posts is still valid, except that Point J would be moved to the Domed House top next year. However, it is possible that a new Middle Section will form during the Domed House rally, and if it does, I would give the new one priority.

Happy holidays everyone!

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