Dow - Head and Shoulders revisit.

Assuming Dow is forming its mega wave 6 as shown above. Being a corrective wave its has three waves, wave A-B-C.


It is currently trying to complete its wave B, that will be the right shoulder for the 'Head and Shoulders' formation. The last juorney may be short but sometimes it can be very juicy. It is also possible that wave B can drag longer and higher to form a 'double tops' instead of 'head and shoulders'. Big fish may need to exit progressively at a much earlier time, but as a small fish, I still can affort to wait for a while.


After the completion of sub-wave iii, Dow will have its sub-wave vi pullback, to be followed by the last sub-wave v advance to complete the wave (3) as well as wave B as shown then I will have to run for my life unless it is not wave B.

Besides the mega wave 6 option, it is also possible that Dow is currently in its mega wave (IV) as shown below.

Whether it is major wave 6 or mega wave (IV), Dow is likely to head for 5,000 or below in its next plunge, if my chart interpretation is correct. I can be wrong.

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'Fiddler on the Roof' is a nice movie. I watched it in 1972 when I was studying Engineering in Singapore. This song 'Tradition' is one of my favorites.