In the last two days, Dow dropped with higher volume of 8.6 billions and 7.7 billions respectively versus the previous 10 days average volume of about 6 billions. Not a good sign. The last two days drop is likely to be sub-wave iv as shown below. If Dow can start to move up from here, sub-wave v is likely to stop at 9500 to form wave 1. Wave 2 consolidation can take 7 to 10 days.
Another possibility is as I have mentioned previously, higher degree wave 2 consolidation may not appear at all, under such circumstances I would expect the current up trend to continue with only minor corrections as shown below. Under such circumstances, major wave (III) would consist of 9 mini sub-waves only.
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