Where is Dow heading?

In the last 17 sessions, Dow moved side way with 5 sub-waves as shown above.

Wrestling for control ?

A bullish interpretation is by treating the 5 sub-waves as triangles formation a,b,c,d,e to form wave 10. If so, very soon Dow will break its ceiling and form its up trend wave 11 to be followed by waves 12 pullback and another surge, wave 13.

A more bearish interpretation is my previously mentioned major wave (IV) consolidation. The five sub-waves formed the wave a, the last 3 days of up candlesticks formed the wave b, to be followed by wave c down to complete the major wave (IV) as shown below.

If it stops at the lower channel line, major (IV) can end somewhere near 9750.

In a lighter Mood

I find the following video from youtube very entertaining. With the help of the English Lyrics, you can sing this Indian song. My son like to sing this song.

http://www.youtube.com/watch?v=zDKcevMFUCo