Dow Jones Industrial
DJI bounced back after taking support at the lower end of the channel. As per the wave counts, wave 4 is possibly complete and wave 5 should now unfold. However, wave 3 is shorter than wave 1 and this would mean that wave 5 will be shorter than wave 3 and can be truncated. On the way up, the upper end of the channel is around the 40000 mark. On the way down, 40WEMA is currently pegged at 33665 and that is a crucial support level to watch out for.