Dow dropped 1.82% or 243 points to close Tuesday trading at 13,102 level. All it needs is a drop of another 100 plus points for Dow to go below the crucial 13,000 level. Once that happened, the probability is very very high that the mega wave 1 has ended. The 43 months bull run since March 2009's low of 6,547 has finally ended.
Theoretically the next major temporary support is the 12,100 level, the bottom of wave (iv), for Dow to take a breather before its next journey down south. Don't forget the worst case scenario is the 100% retracement to the starting point of 6,547 for mega wave 2.
However if Dow failed to break below the 13,000 level, that means the current pullback is only the first sub-wave of wave (v), the sub-wave 1/(v) as shown below. The big boys have decided that the game is not over yet.
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