Not much changes to Dow after the last few trading sessions. The index remains below the upper trend line. I am still not certain whether the rebound since March is a bear market wave B rebound as shown below. Most people think that this is unlikely. I also think that it is unlikely based on the currently economic situation but I prefer not to rule out this possibility at this moment until Dow has punched through the upper trend line.
If March's bottom is not wave A, then it is likely to be the end of the 17 months bear cycle. Under this possibility Dow may go for a sub-wave ii pull back as shown below. (very bullish)
Or Dow may go for a higher degree wave 4 pullback as shown below.
There is no indication from Dow so far on its major direction.
Not much changes to Dow after the last few trading sessions. The index remains below the upper trend line. I am still not certain whether the rebound since March is a bear market wave B rebound as shown below. Most people think that this is unlikely. I also think that it is unlikely based on the currently economic situation but I prefer not to rule out this possibility at this moment until Dow has punched through the upper trend line.
If March's bottom is not wave A, then it is likely to be the end of the 17 months bear cycle. Under this possibility Dow may go for a sub-wave ii pull back as shown below. (very bullish)
Or Dow may go for a higher degree wave 4 pullback as shown below.
There is no indication from Dow so far on its major direction.
No comments:
Post a Comment