Dow reached an intra-day low of 24,445 losing 539 points (-2.15%) on Friday before gaining back 243 points to closed at 24,688 (-1.19%). Dow is on its mini wave 3 of C.
The 60-minute interval chart gave better details for the current wave C. Mini wave 1 has 5 waves followed by a 3-wave mini wave 2. The mini wave 3 has formed 9 small waves so far. If Dow can move higher on Monday and Tuesday to 25,000 level, then that can be the mini wave 4.
But if Dow were to continue to move lower on Monday and Tuesday then mini wave 3 has more than 9 small waves and is heading for minor wave xi-xii and xiii.
From the 1-Year chart, I have roughly put the end of mini wave 3 at 24,000 level by assuming that the wave C has only 5 mini waves. Hopefully the mini wave 5 of C can end at 23,000 level to complete the major wave 8.
Before Dow starting its major wave 9, Malaysian market as well as other European and Asian markets will not be able to have another bull run.
The important thing is to have bullets at the end of the major wave 8.
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