Dow - Can forget about wave (x)

With last Friday's strong rebound, the magnitude is too big to be considered as mini-wave 6, we can forget about the wave (x) scenario.

We are left with 2 possibilities, a more optimistic major wave (6) formation with a 10% correction as shown below, to 14,750 level.

Or the pessimistic mega wave 2 formation as shown below.

With this pessimistic option, The worst that can happen is for the mega wave 2 to go all the way to 6,547 level for a 100% retracement within the next 24 months.

 

 Mega wave 2 of the super wave VII.

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