All right. Cut it short. Dow on Wave D (4th out of 5 Bear Term Waves). Hovering around fibo 21%, dow is doing correction. Why i think is just a correction?
1) Previous Wave B actually hit 61.8 Fibo. Wave D target 38 Fibo at least to make Wave D valid? Jan High.
2) MACD shows flattening but the average is firmly above centerline. This is sign of bulliness. Compare to Wave B, same thing happened but higher high is made after correction
3) Lower bollinger is sharping up making higher support. Thus correction should strongly support at 1750 level.
4) Volume analysis do not shows any sign of decreasing. Suggesting market interest is there
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