On the left we look at the Dow on the daily chart.
My current and very reasonable wave count is that we have seen 2 abc-waves and therefore we are currently in a flat correction.
The next sign is the high volume on the downdays which shows that there is fear in the market.
And when we look at the cloud we can clearly see that we have no clear trend at least not on the daily, bc of the tenkan and kijun behavior and also the side wards going cloud.
When we look at the weekly we can see that the cloud starts to going side wards as well but is still bullish. Only the tenkan cross is bearish on the weekly.
It is very possible that the Dow goes below the cloud between the 25.-29. at around 24380, bc there we have very low support.
My current and very reasonable wave count is that we have seen 2 abc-waves and therefore we are currently in a flat correction.
The next sign is the high volume on the downdays which shows that there is fear in the market.
And when we look at the cloud we can clearly see that we have no clear trend at least not on the daily, bc of the tenkan and kijun behavior and also the side wards going cloud.
When we look at the weekly we can see that the cloud starts to going side wards as well but is still bullish. Only the tenkan cross is bearish on the weekly.
It is very possible that the Dow goes below the cloud between the 25.-29. at around 24380, bc there we have very low support.