The option 1 for Dow is still the 3-3-3-3-3, A-B-C-D-E major wave 8 formation that I have been mentioning for quite a while.
But when Dow refused to move lower in the last two weeks along my projected path, I began to question my much earlier decision to rule out the second option that major wave 8 is a simple A-B-C and it has already ended in December 2018 and since early 2019 the major wave 9 has already started.
The only 'BUT' is - if it is indeed a simple A-B-C major wave 8, it must have 5 sub-waves for its wave C for a 3-3-5 formation, 'BUT' the wave C has only 3 sub-waves i-ii-iii.
However, whether I like it or not, if Dow can continue to move higher and can punch through its upper trend line and can go beyond 28,000, Dow is for sure, forming its major wave 9 that may end before end of 2020 or during first quarter of 2021.
So, the main question is whether Dow can punch through its upper trend line. Option 1 or option 2?
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