Dow went up 164 points on Friday, 8th May

Watch out for the last train before it runs away.

Yesterday (May 8) Dow added 164 points, however the 3 possibilities mentioned in my Thursday's post are still valid.
(Double click to enlarge chart)

Possibility 1 still the same as shown above with sub-wave 5 consists of 9 mini waves followed by downtrend movement consists of one down candlestick on Thursday and a rebound candlestick on Friday. For illustration, similar form is clearer for Nasdaq as its Friday's rebound is well below the top as shown below.
For the above possibility 1 with last Friday rebound there is this possibility that sub-wave 5 is being extended from 9 mini waves to 13 mini waves as shown below.
For the more bullish possibility 2, the story is the same as shown below. Wave 1 of major wave(III) remains the same as I have mentioned on Thursday. Last two candlesticks can be treated as parts of the downtrend movement and rebound.
However in the coming Monday (May 11th) if Dow continues to run, then wave 2 has only one candlesticks as shown below, Thursday (one day) pullback has completed the wave 2, Friday's 164 points was the starting of wave 3, very very bullish indeed, the last train is running away.

If God is kind to those at the sideline, Thursday's down can be mini wave a, Friday's up can be mini wave b, then coming Monday will have to be a "doji" or a down candlestick to form mini wave c or part of c as shown below. The corrective wave can even goes for a-b-c-d-e complex wave.
Similar to possibility 1, the wave 1 as shown below can be 13 mini waves instead of 9.

I will have to formulate my action plans before Monday with respect to each possible outcome particularly the case of runaway train.