Dow - Focus on Scenarios 1 and 3 at the moment

Based on the 4 possible scenarios that I have mentioned previously, at this juncture, since Dow has moved closer towards the upper trend line, the main question is whether it can break this resistance line. If once again Dow starts to move down after touching the resistance line and continues to move side way as shown above, Dow can be forming the major wave (IV).
However, if Dow can break its upper trend line within the next few sessions, then wave 11 is the current wave as shown above.

Based on the low volume of 4.5 billions and 4.1 billions for the last two days respectively, it is more likely that Dow will turn down after reaching its upper resistance line. Scenario 1 is a more likely outcome unless volume can improves to above 6 billion.

In a heavier mood:

This is another must read article from Art Harun