Dow could be ready to accelerate towards 23100 levels

The Dow Jones seems to be working on a lower degree wave ii, within the expected wave (3) of a higher degree as labelled on the chart here. The wave structure remains unchanged with an impulse drop that terminated around 24100 levels, followed by a corrective rally that terminated at 26300 levels earlier, labelled as Waves (1) and (2) respectively. Furthermore, the drop towards 24750 and subsequent rally towards 25500/600 levels could be labelled as waves i and ii respectively. If the above higher and lower degree counts holds to be true, we could witness a sharp reversal lower from sub 25500/600 levels towards 23100 levels, as wave (3) unfolds. Ideally, prices should stay below 26300 levels if the 3rd of 3rd wave is to unfold.


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