The candlestick for the last 5 minutes is a green candle, it opened with a gap down at 25,366 level but closed higher at 25,383 level. There were big sellers (163 million) started to dump shares at 15.55pm creating a 'gap-down' but there were equally big buyers emerged to not only able to absorb all the selling, the buyers were able to buy their way 'up' to have a green candlestick for this last candlestick of the day. It will be interesting to see how deep is the buyers' pocket in the next trading session on Monday.
I have been looking for big volume of at least 550 million or 600 million and a surge in Dow with dynamic trading to turn the impossible mega wave (3) scenario into a reality. The big volume and dynamism took place during the last 5 minute of the trading session on Friday minus the surge in price forming only a short, very short-body green candlestick, sigh!
If the buyers do not have enough financial resources and if their support during the last 5 minutes on Friday is a 'desperate support' and had used up almost all their bullets, the buying will fizzle out next Monday and Dow will remain in its wave B formation with a weak low volume mini wave 5 run-up.
However if the buyers can continue their active buying support into next Monday's trading session with dynamism and high volume and a surge in price, then the run-up could be the minor wave iii of mini wave 3 of wave (iii) of major wave 1 of mega wave (3).
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