Has the June Technical Rebound Ended ?

Dow continues with its current down trend when the Federal Reserve gave no signal for further monetary easing. After dropping for 5 consecutive days, the rebound since early June is confirmed to be either a simple a-b-c wave (ii) rebound as shown below for Option 1.

Or, it is a 3 sub-wave, wave b rebound as shown below for Option 2.

For Option 1, the major wave 2 correction can go as low as the March 2009's low of 6,547 for a 100% retracement.

For Option 2, if Dow can hold above 11,000, it is possible that Dow is at the tail-end of the major wave B rebound since March 2009.


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