Dow dropped 254 points (-1.44%) on Thursday . With this drop, the pullback becomes a higher degree correction. It becomes possible that its wave (iii) has ended.
So far the pullback has formed 5 little down waves i-ii-iii-iv-v, 5 waves formation usually indicates the starting of a new trend. Hopefully this is the wave a of (iv). The next rebound can be the wave b before end of November. The rate increase in US in December will provide the wave c of (iv).
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