Dow Dropped 3.56%

The whole red candlestick of 289 points (3.56%) drop for Dow confirms the 'Doji' reversal, it also rules out the bullish Option 1 wave count for Dow. Option 2 for Dow can take either an a-b-c formation for wave (2) or an a-b-c-d-e wave (2) as shown below.

a-b-c correction will take about another 3 days whereas a-b-c-d-e formation will drag for another 7 to 10 days. I think a-b-c-d-e is more likely.

If Dow continues to come down sharply then it is going for Option 3 for a diagonal wave 5 formation as shown above. Dow can retest the March 9 low of 6547.