Dow plunged 969 points (-3.58%) on Thursday and at this moment Dow Future has dropped another 400 points.
From the chart, if Dow opened its Friday session with more than 250 points lower to go below its previous low of 25917 level, then the current down trend is likely to be the wave 3.
With this I can rule out the most optimistic wave 10-11-12-13 super wave VII scenario that I mentioned previously.
Once Dow punches through its lower trend line, the best that we can have is a mega wave (2) correction of 25%.
As I have mentioned in my previous article, if the Covid-19 outbreak finally developed into a pandemic, then Dow is likely to have a 50% super wave VIII pullback.
Be very very careful. But if you still have lots of bullets by the time Dow reaches 14600 level, you can make tons of money by the time the super wave IX ends.
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