Dow - Where are we ?

My belief - When Dow plunged, the whole world plunged.

My view - Dow should not be at its current level. It is being supported and put at its current level by the wealthy and powerful elites.

My hope - Technical analysis remains relevant.

My interpretations :

Possibility 1 : 
If major wave (5) has 9 waves, wave (i) to wave (ix) as shown below. Wave (vi) is almost completed. Dow is able to stay above the short-term lower resistance line. Next run-up is wave (vii).

Possibility 2 :
Dow drops below its short-term resistance line but is able to stay above its longer term lower resistance line as shown below. Mega wave 1 has 9 waves. Dow is forming its major wave (6). Next run-up is major wave (7).

 

Possibility 3 :

Dow drops below its longer term resistance line, around 11800 level - get ready to run. When Dow drops below the major wave (4)'s low of 10,655 as shown below - run for your life, Dow has completed its mega wave 1. Mega wave 2 can be very damaging with a possible low of 6547 for a 100% retracement.

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