6 Dec 2018 ‚óŹ 05:39 AM

Since the Dow is done with a deep retracement needed in wave 2 there is no reason why wave 3 down cannot start. Of course you need it to actually break the neckline at 2450, but let us consider what that could mean. Wave 2 done would mean that a third wave equal in size at least started. In most cases however wave 3 down will be extended. So 3=1 is at 24090 but 3=1*161.8 times is at 21500 and that is also the projection of the head and shoulders pattern above the blue neckline. That is a 14% drop from the last closing price. This crash may have already started or will do so once the wave 2 gyrations in the right shoulder are complete.

dow 061218

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