Dow dropped another 129 points on Thursday but the uptrend still remains intact as shown below
For the two possibilities that I have discussed in my May 19 post, the (I)-(II)-(III)-(IV) option remains the same except the wave a-b-c for wave(IV) takes a slightly different form but the magnitude and duration are almost the same as the a-b-c for (II)
For the other 1-2-3-4-5-6-7 option that I have mentioned, it is no more valid. It appears that that the major (I) has only 5 waves instead of 9. Dow is forming (II) at the moment. For this option the wave c of (II) can even go slightly below the lower trendline.
Look at the indicators below, both the options have even chances.
For the two possibilities that I have discussed in my May 19 post, the (I)-(II)-(III)-(IV) option remains the same except the wave a-b-c for wave(IV) takes a slightly different form but the magnitude and duration are almost the same as the a-b-c for (II)
For the other 1-2-3-4-5-6-7 option that I have mentioned, it is no more valid. It appears that that the major (I) has only 5 waves instead of 9. Dow is forming (II) at the moment. For this option the wave c of (II) can even go slightly below the lower trendline.
Look at the indicators below, both the options have even chances.
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