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.
.
No comments:
Post a Comment