9 Oct 2018 ‚óŹ 04:04 AM

Dow completed wave 4 and wave 5 has the set up of an 5 wave rise that looks like a contracting ending but is 5-3-5-3-5, in nature. Wave 5<3<1, that is each leg is shorter. Wave 5 ended just near the point where it could have become larger so it did not violate this wave count. The recent 3 day correction in the Dow appears small but could be an impulsive decline marked as wave i and could be the start of a much larger sell of in US stocks. The next few days we need to watch if the Dow indeed makes a lower top in wave ii and starts to decline again below the wave i low. That would confirm this scenario. Once proven true this would mean going back to or below the wave 4 circle low at 24000 seen in July.

dow 091018

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