Over the past week, the Dow and NDX have continued forming points on their projected patterns. The NDX appears to have formed a triangle over the past week. That triangle also formed points 15-20 of the smaller Three Peaks Domed House pattern.
It looks like the NDX made an upside breakout from the triangle late Thursday which should cause a continued burst higher over the next few days. Here is a chart showing both TPDH patterns underway:
A couple weeks ago, I mentioned a double zigzag pattern on the Dow and expected the Dow to have a pronounced drop to a point above the 8/7 low before the final rally. I think the Dow has just completed an equivalent phase although it was a sideways period instead of a sharp drop.
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