Dow Tumbles Triple Digits

This is the top story of Yahoo Finance at this moment and Dow has dropped about 140 points (1.3%) after an hour of trading.



I still maintained that Dow is at its wave iv of its major wave (3), and wave iv is likely to be completed by early December. Theoretically wave iv should not go lower than the top of wave i, i.e. 10,700. The next wave after wave iv is wave v. That will be the the last wave if there is no extension of waves for major wave (3).

Korean artillery conflict and European debt problems at this stage provided reasons for the wave iv correction. But I won't be surprised if the same events at a more serious stage later become the catalyst for the starting of mega wave C's plunge.