Sorry for jumping into a 'too-early' conclusion that the Dow Jones Industrial Average has completed its wave D with a failure wave and was forming its wave E.
With Dow gaining a total of 641 points (+2.45%) within three days to reach 26,753 that is 97 points higher than its previous high of 26,656, it appeared clearer now that this is the wave iii of D. There is another 300 points to go to reach the upper trend line at 27,050 for a new record high.
Will Dow turn south upon touching the 27,050 level or will it punch through the ceiling and go all the way to 30,000 and beyond? To be on the safe side, I would prefer to stick to my original wave count that Dow is about to complete its wave D.
.
No comments:
Post a Comment