Dow - Wave 1 may be extended

Colmar, France

One possible wave count is to treat the March 2009's low of 6547 as the end of mega wave VI. The run-up since March 2009 is the major wave 1 of mega wave VII.

The action by the Federal Reserve to inject $40 billion a month into the US economy is going to push up the prices of financial assets including stocks.Thus wave 1 may be extend to 9 waves. The next major correction can be wave (vi) instead of the major wave 2 as shown below.

Colmar, France

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