Dow (22,859) - How is the wave count now ?

Dow dropped another 464 points (-2%) on Thursday giving a cumulative drop of 1,241 points or about 5% in the last 4 days.

Looking at the latest chart I find that I still cannot rule out the A-B-C-D-E major wave 8's option. It can be forming an 'expanding triangle'.

Under this option, wave C has already reached its extreme end, Dow must move up from here. Another 2% drop will definitely ruled out this option.

A more optimistic option is the A-B-C option for major wave 8. Under this option Dow is at the tail- end of its major wave 8 that can end within the first quarter of 2019.

That also means the major wave 9 will start in early 2019 and is expected to set a much greater height than the wave D of the A-B-C-D-E option.