Last Tuesday (24/2/09) when Dow rebounded from 7114 to 7350, I assumed that sub-sub wave (iii) has formed and I was looking for a 2 to 4 days rebound for (iv). However, Dow rebounded for only one day, from the chart one can see that the rebound is rather small in term of time and duration. At this moment I am more inclined to assume that Dow is still somewhere in the (iii). If we started to count the mini waves within (iii), it is likely that Dow is in the 7th mini wave. If within the next one to two days Dow can have a 200 points rebound for mini wave 8 follows by another minimum 300 points drop to complete the 9th mini wave, Dow will have its sub-sub wave (iii) completed. All these are minor countings subject to adjustment, the important thing to take note is, Dow is at the final journey of Wave 5 of Major Wave A, on completion of Wave A within this month, Dow is going for a major bear market rebound of Wave B that can go quite high and can last for several months. Next question is how low can Dow go in this last journey? The answer is "6200".
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