Dow fell 138 points after 90 minutes of Trade

Dow has given up 138 points (1.3%) after 90 minutes of trading on Thursday Morning (New York).


No good, no good, it shows that my previous wave count for Dow is not right. If my previous wave count is correct, today's drop should not go below yesterday's low as shown above


That small red doji wave next to 4 that I have neglected is possibly the sub-wave ii of wave 5 as shown above. After this adjustment, I managed to add one more sub-wave to wave 7, with this wave 7 has its five sub-waves i, ii, iii, iv and v completed. The down candlestick on Tuesday marked the beginning of corrective wave 8. If this is true, Dow won't be good at least for the next 10 days. This wave 8, in theory, it should not go below wave 6 at around 10200. That should be the last line of defense. The first line of defense is top of wave 5 at 10347.