Dow - Last journey of Bear Market rebound

Refer to the above long-term chart, the October 2007 height of 14164 is wave 'v' as shown, one question was asked, "Can the March 2009 low of 6547 be wave 'vi' and the last 16 months rebound be wave 'vii'?". The answer is no because March 2009 low of 6547 is much lower than October 2002 wave 'iv' low of 7286. Since wave 'vi' cannot be lower than wave 'iv', March 2009 low cannot be wave 'vi'. Once wave 'vi' is ruled out, the rebound in the last 16 months has to be a bear market rebound. The rebound can either the major wave B of the major wave 6 as shown above.

Or the rebound is the wave 2 of major wave 'a' of mega wave (IV) as shown below.

In both the scenarios, the last 16 months rebound is a bear market rebound. So far Dow has completed its wave 1 and 2 and is either half-way through wave 3 or one-third way through wave 3 as shown below.



Dow closed at 10636 on Tuesday, its wave 3 may peak at April's height of 11205 to form a small double tops reversal by end of August or it may end at the upper resistance line of around 12000 by end of September.

Malaysian Politics

Another excellent article from Art Harun: When our shadows are taller than our soul