Dow - Has wave (v) ended ? (Part 2)

Oasis

First alert - Dow has dropped below its medium term lower resistance line. If Dow can have a strong rebound in the next few days to move back into the upward channel, then we will have a last surge, the sub-wave iii before a higher degree correction takes place.

However, if Dow continues to move lower in the next few days, and if the drop can stop at the long-term lower resistance line at around 14,000 level, then it is the major wave (6) correction, a 10% drop.

If Dow does not stop at 14,000 level, then mega wave 2 has started and ..... the bubble has burst. 

Summary

At Best  - Dow has one more rebound, the sub-wave iii.

At Worst -The bubble has burst. Mega wave 2 has started, Dow will either drop by 30% to 11,000 level or it will have a 100% retracement to 6,547 level.

In Between

Major wave (6) correction, a 10% pullback.

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