Dow (27,219) - Another step closer to unveil its major direction.

Dow continued to move higher over the week and added another 422 points (+1.57%) within the last 5 trading days.

My reading for Dow remained the same as what I have written in the previous week.

Dow is either on its wave ii of E in its 3-3-3-3-3, A-B-C-D-E major wave 8 formation with another 130 points to go to form a double-top reversal pattern.

OR Dow has already completed its major wave 8 in December 2018 and it has been forming its major wave 9 since January 2019. To confirm this option, Dow will need to punch through the upper trend line and continue to pull away from the upper trend line. Then it is on its mini wave 3 of its wave iii of its major wave 9. As I have questioned before, why there are only 3 sub-waves instead of 5 for wave C.

But if Dow can really punch through its ceiling and heading for 30,000 and above, I have no choice but to accept that the wave C is a failure wave with wave iv and v missing.

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