Dow gained 144 points after 45 minutes of Trading

45 minutes into Tuesday trading, Dow has gained 144 points (1.4%). Monitor the technical indicators closely to determine whether Dow is going for wave (IV) or big C
After cutting through the lower resistance line it is possible that Dow may move back to touch the lower trend line again before it continues to move lower. Wave 4 level at 9712 can provide a base for wave (IV) if it is forming wave (IV). If Dow at the close of today session (Tuesday) can gain more than 200 points and moves above the lower resistance line back into the channel, it is possible that Monday's low marks the end of wave (IV).

However if Dow merely touches the lower trend line at the close today and if it continues to move down in Wednesday trading, and if the 9712 level is broken, chances of forming the big C that I have mentioned previously is extremely high.