Dow has just closed its Wednesday session with a drop of 92 points. Before I went to bed last night it was on a positive territory with a plus 45 points and I was expecting it to close the session with a positive 70 to 80 points to complete its sub-wave ix. Is sub-wave ix missing? A look on its intra-day chart can see that Dow has indeed completed its sub-wave ix on an intra-day basis as shown below.
Is this the beginning of its major wave (IV) correction? or is this the end of the financial crisis's bear market rebound, the major wave B rebound, and this is going to be the beginning of the major wave C?
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