Stock rose on Thursday after Germany's Lower House has approved new powers for the Euro's crisis fund. Dow added 226 points, about 2% to 11,237 after 45 minutes of trading.
Dow is close to break out of its upper resistance line of its down trend channel. If it failed to break the resistance line, it is likely that the current rebound is the mini wave (ii) of the sub-wave v of wave 1 of major wave C.
However if Dow is able to break the upper resistance line as shown above, the last low can be the end of sub-wave v and also wave 1, wave 2 rebound has started. This possibility has a lower probability as the magnitude of the sub-wave v is rather small unless it is a failure v.
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