Or simply the Dow Jones Industrials average, the Dow rose in the last 3 days in 3 waves and closed the day down. This keeps the near term bias bearish. A corrective rise points to more downside ahead. There are many ways to count the decline in the DJIA, and this is one of them. Wave c down should equal wave a. That should take it to 16600 with resistance at 17568 at the 20dma.