In this option of wave count, Dow has completed its first uptrend wave (I) that started in March. Since middle of June Dow has started its corrective major wave (II), so far it has completed 5 mini down waves i-ii-iii-iv-v to form sub-wave 1 followed by 3 mini waves up to form sub-wave 2. If Dow starts to turn south from here, that will signal the starting of the downtrend sub-wave 3. Hold cash.
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