Lavender Field, France
Dow dropped 72 points on Friday. Over the week, it dropped 233 points (1.48%). Dow is forming the wave c of its sub-wave ii of wave (v).
I am assuming that wave (v) is a 3-3-3-3-3 diagonal wave. In this case wave 5/(v) will have only three waves and sub-wave iii may end in August to complete wave (v) and also major wave (5).
If the asset bubble is not expected to burst so soon, at least not before Bernanke completes his term as the Chairman of Federal Reserve in January 2014, the next pullback is possibly a major wave (6) correction, expected to be less than 15%.
However, if the next pullback drops below the lower trend-line, it can be a mega wave 2 correction with minimum 30% drop.
Safely Jingu, Kyoto
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