Dow - Is wave 2 of C completed ?

Some experts are simply calling this European debt crisis solution as little more than convoluted. Rather than solve an ongoing crisis, it may only get the European markets through the holidays, prolonging "its day of reckoning" - by Brittany Stepniak

The surge in stock prices in the last few days has brought Dow nearer to its April high of 12,810. In fact, it is possible for wave 2 to have a 100% retracement to 12,810 to form a 'double tops' reversal pattern.


Looking at the chart below, in the last 2 weeks, Dow has completed 5 mini waves i-ii-iii-iv-v. Wave 2 will end at this level if it has only 5 mini waves.

However, if it has 9 mini waves, it will continue with its current run-up to form its mini waves vi-vii-viii-ix, that may bring the index to the 12,810 level.


Next week's development will tell whether wave 2 has been completed.



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