Dow - Where are we ?

Option 1

Dow dropped 238 points (-1.4%) to close Wednesday trading session at 16,804. If Dow can start to move up from here, then this drop is the last mini wave 5 of c that I have been waiting for. This is the end of sub-wave vi and the next up will be the sub-wave vii of wave (xi).

Option 2

However, if Dow continues to move lower from this level, it may look unlikely to me at this moment but I still have to look for an explanation. The only way out is to accept the sub-wave iv of wave (xi) as a running a-b-c. Then wave (xi) has completed its 5 waves in July followed by wave A-B-C of wave (xii).

Then Dow at this moment is actually forming the wave C of its wave (xii). Dow is at the wave i of C of (xii)

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Wave (xii) is likely to end at the 16,200 level, then we will have the last up-leg, the wave (xiii), a possible final leg before a major wave 6 or mega wave 2 correction that I have mentioned previously takes place.

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