Instead of forming a higher degree wave ii rebound, the strong downward momentum reduced the rebound to a lower degree mini wave 2. Mini wave 3 continues to move South. Hopefully the major wave 8 can end around 23,000 level.
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Wednesday, October 24, 2018
Dow Plunged 608 points.
Concern over peak earning growth for semiconductor stocks that triggered a sell off in tech blue chips and other Nasdaq tech stocks, this caused the Nasdaq to drop 329 points (-4.43%) to close at 7,108. Dow was holding quite well near the 25,000 level until the last 90 minutes before the closing bell. Dow closed at 24,583 for a 608 points drop (-2.41%).
Instead of forming a higher degree wave ii rebound, the strong downward momentum reduced the rebound to a lower degree mini wave 2. Mini wave 3 continues to move South. Hopefully the major wave 8 can end around 23,000 level.
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Instead of forming a higher degree wave ii rebound, the strong downward momentum reduced the rebound to a lower degree mini wave 2. Mini wave 3 continues to move South. Hopefully the major wave 8 can end around 23,000 level.
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