Dow Jones Industrial

Dow Jones Industrial (DJI) formed an expanded flat and wave structure suggests that Wave (II) is possibly complete and now Wave (III) is in progress. While forming an expanded flat pattern, the daily momentum indicator also nearly completed its pullback and has now turned around. As Wave (III) plays out DJI can possibly rise higher towards the equality level of 35325 and once that is surpassed, the up move can stretch higher towards 36315 i.e. 161.8% of Wave (I). On the downside, the swing low of 33742 will now be a crucial support level to watch out for.