Dow crossed the 18,000 level and set another new record high, its fifth record in December. I would like to maintain my wave count that Dow is currently forming the wave b of its wave (xiv).
However, with Dow marginally higher than its previous high, the possibility that I have ruled out previously has returned. The previous high is not wave (xiii), it is the sub-wave i of wave (xiii). Dow is forming its sub-wave iii currently.
At this moment I still cannot rule out the more bearish possibility that the previous high of 17,958 could be the end of major wave (5), or the end of mega wave 1.
Whatever is it, the last candlestick is a 'shooting star' with a gap, Dow is likely to take a pause before making its next move.
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