SHORT Dow ready to plunge lower in a 3rd of 3rd wave!

Feb 1, 2019

Yesterday was an indecisive day as Dow Jones produced a doji on the daily chart , leaving room for a potential bearish reversal today. A potential top could be in place at 25109 levels earlier this week, at the fibonacci 0.786 (of drop between 26000 and 21800 levels) and downtrend line confluence. Looking at the wave counts, a higher degree Wave (3) might be unfolding lower, since Wave (2) terminated around 26000 levels earlier. Furthermore waves i and ii within Wave (3) might also have terminated at 21700 and 25100 levels as discussed earlier. If the above structure holds true, we should see a 3rd of 3rd wave drop lower in a swift manner. The down side potential remains below 21000 levels going further.


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