Dow - My two possibilities still hold

Dow plunged to an intra-day low of 15,855 (-2.8%) before rebounded strongly to close at 16,141 (-1.06%) on Wednesday.

With this strong afternoon rebound my two possible options mentioned previously still hold.

If Dow can move up from there, then the intra-day plunge could be the end of wave (xii), a climax sell-off. Dow can have its wave (xiii)'s run until early next year.

However, if the next run-up is a failure run, then Dow is more likely to form its major wave (6).

Major wave (6) is likely to end around 14,750 level.

 

There is still a last possibility that Dow has started its mega wave 2 correction but at this moment I rate it as of lower possibility. I hope I am right. Keep my fingers crossed.

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