Optimistic Scenario
The correction is about to finish. Dow is about to complete its wave (x) at around 15,400 level. The next up will be its wave (xi).
A Higher Degree Correction
Mega wave 1 has more than 5 major wave. Dow has completed the wave a of its major wave (6). Next up is the wave b. Wave c will go to around 14,750 level.
Worst Scenario - The bubble has burst
Dow has completed its mega wave 1 and is currently forming its mega wave 2.
The worst that can happen is a 100% retracement. Mega wave 2 will go all the way to the starting point of mega wave 1, the 6,547 level, to form a double bottom reversal pattern.
Less damaging is a 35% pullback to 10,655 level.
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