The wave pattern from the 23rd March low looks corrective , although the depth of this correction is deep
at just above 78% with the gap now closed the momentum is not impulsive! In addition if counting a 5 wave
impulse wave 3 would be the shortest!
If correct primary wave 3 circle is now in progress with intermediate wave (1) just completed with a normal A,B,C correction.
Intermediate wave (1) broke below the lower trendline and wave (2) has followed it back up with touching multiple times
finishing last week with an ending diagonal.
Look out for a possible decisive break downwards soon.
Good Luck
Note - I am now short DJI.
at just above 78% with the gap now closed the momentum is not impulsive! In addition if counting a 5 wave
impulse wave 3 would be the shortest!
If correct primary wave 3 circle is now in progress with intermediate wave (1) just completed with a normal A,B,C correction.
Intermediate wave (1) broke below the lower trendline and wave (2) has followed it back up with touching multiple times
finishing last week with an ending diagonal.
Look out for a possible decisive break downwards soon.
Good Luck
Note - I am now short DJI.