Dow (25,545) - Next Few Days very critical

Dow added another 553 points (+2.21%) on Wednesday on top of the 530 points  (+2.16%) gain on Tuesday. It is a total of 1083 points or 4.42% within 2 trading days. Volume also improved by 17% from an average volume of 360 million to about 420 million but is still well below my target of 600 million.

If I am still talking about a wave B formation, Dow is at the minor wave iii of its mini wave 3 of its wave (iii) of B. It may end slightly higher at around 27,000 level. After that will be the wave C correction that is likely to bring Dow to the 17,000 level or lower.

What about that fundamentally looked impossible mega wave (3) scenario that I mentioned previously that is fundamentally impossible but technically possible? Any fundamental analyst based on the current and projected economic and political and Covid-19 pandemic developments would term this scenario as absurd and laughable.

But a pure technician of chart analysis that stayed in a dark room and looking only at the chart and believing that all he needed to know outside of his room are already reflected in the chart would include this as one possibility subjected to confirmation. The indicators that can confirm this scenario are the coming chart form and volume. Since Dow is at the minor wave iii of its mini wave 3 of its wave (iii) of (3), a wave iii of 3 of (iii) of (3) has to be very very dynamic, explosive and with very very high and unmistakable volume, failure which its has to be a B.

Keep your fingers crossed.

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