Dow Jones Update: Downside Pressure Persists

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I currently estimate that the Dow Jones is in the early stage of wave B of wave (B), as indicated by the black label. This suggests that the index may continue its correction, potentially testing the 38,200–39,186 area before rebounding to challenge the resistance zone around 40,791 and possibly filling the gap between 41,173 and 41,629.

However, under the more bearish scenario (red label), the selling pressure on the Dow Jones remains significant, which may result in the formation of wave [iii], leading to a deeper correction below the 36,611 level.

Penafian

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