Dow - Dropped with higher volume for two days

In the last two days, Dow dropped with higher volume of 8.6 billions and 7.7 billions respectively versus the previous 10 days average volume of about 6 billions. Not a good sign. The last two days drop is likely to be sub-wave iv as shown below. If Dow can start to move up from here, sub-wave v is likely to stop at 9500 to form wave 1. Wave 2 consolidation can take 7 to 10 days.

Another possibility is as I have mentioned previously, higher degree wave 2 consolidation may not appear at all, under such circumstances I would expect the current up trend to continue with only minor corrections as shown below. Under such circumstances, major wave (III) would consist of 9 mini sub-waves only.