Dow Jones should e ready to reverse lower towards 18200

Dow Jones might have already carved a meaningful lower high around 27600/700 handle on June 09, 2020. Ideally prices should remain below that handle and any counter trend rally to terminate around 27000 mark. At this moment, the indice is seen to be trading around 26000 mark and it is just a matter of time before it is on its way lower again. The wave cunts are clear as follows: The initial drop from 29600 through 18200 is larger degree Wave (1), while the corrective rally towards 27600/700 is Wave (2). If the above larger degree counts are correct, Dow Jones must remain below 27700 and reverse sharply lower towards 18200, going forward. Furthermore, the drop between 27700 and 24544 is wave 1 and the subsequent rally towards 26793 is wave 2, within Wave (3). If the above counts hold, the indice is due for a sharp reversal.

Strategy:

Short against 29600, targeting below 18200.

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