We could be at the first stage of this wave count failing and as we are not out of the woods just yet, if this market still has a bigger impulse in mind. My three trend lines are all parallel to the top line and all can produce a support area. If the markets keep crashing through these trend lines, then I have a reasonable idea that this bear decline has much more to go.
intraday corrections are much harder to anticipate, but bigger ones have more bearish mood associated with them. The wave patterns are much more different with this DJIA than with the Mini DJIA.
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