This is the headline on Yahoo Finance. Still the same old problems, inflation and debts. Dow dropped about 100 points from 11,201 to 11,100 after half-hour of trading. If this drop is maintained until the close, it is confirmed that the wave count for Dow is as shown below. Wave iii has been formed. Wave iv may be less than 7% that I have mentioned earlier at the expense of a longer duration for a side way movement.
Shanghai SSEC index dropped 5% last Friday, remained side way on Monday and it dropped another 4% at the close today. My wave count for SSEC is as shown below. Same as Dow, its wave iii of major wave B has been completed.
SSEC is currently trying to complete its wave iv.
Hang Seng Index is quite similar to that of SSEC.
One possible wave count is as shown below pending confirmation on further price development.
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