Dow - My wave counts remained the same

Dow dropped 411 points (-2.5%) within 2 days and closed at 16,026 on Friday. My three possible wave counts for Dow remained the same.

 

I am looking at the 15,800 level. Hopefully the current down trend can stop there. The next crucial level to watch is the 15,400 level.

On Friday Marc Faber talked to CNBC, "I think it's very likely that we're seeing, in the next 12 months, an '87-type of crash. ..... And I suspect it will be even worst."

He was talking about the coming crash could be even more than 22.6% in a single day.

On 19th October 1987, Dow dropped 508 points (-22.6%)  from 2,240 to 1,738 within a day.

Click 'Marc Faber - The Coming Crash' for what he has told CNBC on Friday.


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