Dow Jones terminated lower degree Wave 2 around 26400 ?

Dow Jones structure remains unchanged and under most likelihood, the indice is heading lower in larger degree Wave (3) since 27700 highs on June 09, 2020. The indice has been carving a lower degree Wave 2 (Wave 1 was between 27700 and 24544) since then and it might be complete around 26400. We still cannot rule out the possibility of another lower high below 27700, probabilities are less with each day passing. Dow Jones had earlier carved larger degree Waves (1) and (2) around 18200 and 27700 respectively. If the above potential counts are correct, the indice is heading lower towards 18200 and further. Also note the conventional Head and Shoulder reversal pattern might have carved a potential right shoulder towards 26400 as well.

Strategy:

Short against 29600, targeting below 18200 over the long term.

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