Hit by a 5% drop in crude oil prices and renewed fear of a potential Greek exit from the eurozone, Dow gave up 331 points (-1.86%) on Monday. Wave c of (xiv) in progress, this is my most optimistic option. If I am expecting an 8% correction for wave (xiv), Dow is expected to go to 16,500 level, another 1,000 points to go.
I am assuming wave (xiii) is not the end of major wave (5) or end of mega wave 1.
If my assumption is wrong and if the current pullback is the 15% major wave (6) correction, Dow may be heading towards 15,000 level.
Thing can be worst if this is the mega wave 2 correction.
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