Thursday, July 3, 2014

Dow - Closed above 17,000 for the first time

Dow set another new high and closed above 17,000 level for the first time. It added 92 points on Thursday to close at 17,068. Mini-wave 5 of sub-wave iii of wave (xi) continues.

Still a long way to go before Dow reaches a possible major turning point at wave (xiii). Only at that junction I have to worry whether Dow is going for its major wave (6) correction,

or the assets bubble has finally burst, where the mega wave 2 correction can bring Dow to 10,655 level for a 40% pullback. The worst case scenario is a 100% retracement for mega wave 2 to go back all the way to its starting point at 6,547 level.

Hopefully Dow can be well-behaved in completing its wave (xi), (xii) and (xiii), I do not wish to have a heart attack.


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