Dow gained 329 points (+1.27%) on Monday on strong China manufacturing data and optimism about US-China trade talk.
If Dow is forming an 'Expanding Triangles' major wave 8 since January 2018
The likely target for the current major wave 8 is 27,000, another 742 points or 2.8% away only. If Dow really turns south after that, the wave E, unless is a 'failure' E, can reach as low as 21,000 level (-22%) or even lower if it is an 'over-shot' wave E.
Can Dow punches through the ceiling? I don't know. Technically it shouldn't if it is forming an 'Expanding Triangles' 3-3-3-3-3, A-B-C-D-E corrective wave. But as I have mentioned before, in stock markets, everything is possible. But then how to explain the 3-wave C? An ordinary expanding A-B-C corrective wave, C should have 5 waves.
Be careful, make sure you don't be caught on the wrong footing.
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