Dow (20,669) - How big the correction is going to be?

Dow jumped 2,112 points (+11.37%) on Tuesday and confirmed that wave (iii) has ended. With that if wave A of the super wave VIII has only three waves, then wave A has ended and the current rebound has to be the wave B of VIII. At this moment Dow is forming the wave (i) of B that can be quite high. It can form a double top.

Under this scenario, Dow is going for a 3-3-5, ABC corrective super wave VIII, not so damaging.

But if wave A is going for five waves formation, then the super wave VIII will take the form of a zig-zag 5-3-5, ABC corrective wave. This is more damaging and the wave B rebound will have a much smaller magnitude.

If this is going to be the case, the current rebound is the wave (iv) of A, which is about to finish. Next down will be the wave (v) of A.

As I have mentioned before, there is this unlikely (due to the current out of control Covid-19 situation) but technically possible scenario of a mega wave (2) formation. Nobody at this moment, under the current world economic condition will think that the correction has ended and the Dow is on its mega wave (3) bull run.

.