Out of my expectation, Dow has a 344 points drop on Wednesday. The drop may appeared to be small, only -1.16%, but it causes a change to the chart pattern with great implication - a possible terminal diagonal triangles formation.
This pattern usually appears at the termination points of larger pattern, indicating exhaustion of the larger movement. This 344 points drop brings back the super wave VIII option that I mention previously as one possible outcome again.
Besides this bearish option, another possible bullish option is the expanding A-B-C major wave 2 option with a -14.8% correction that I mentioned on Tuesday
But I am praying very hard that Dow can continue to drop for another day or two to complete an expanding sub-wave ii of major wave 3 formation. If this is the ultimate outcome then Dow will continue with its new record setting next week. Hopefully by the end of this week we can have a clearer picture.
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