Monday, October 1, 2012

Dow - End of a major uptrend ?




The 20th September's high of 13596 can be a possible end of the uptrend for Dow unless its sub-wave v or wave (v) is extended.


If the uptrend has ended, the last few days of rebounds is the mini-wave 2 of sub-wave i as shown above. The major wave 2 pullback can have a minimum correction of about 20% to the bottom of wave (iv) at around 10655. The worst that can happen is a 100% retracement to its September 2009's low of 6547.



At this moment I am assuming the 2009' low of 6547 is the end of a mega-wave VI.

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