Dow Jones – Road Map_1
In this update, we focus on the index with the most reliable Elliott Wave structure, outline the key path for tomorrow, and assess what Dow’s next move could reveal about the broader market direction.
Elliott Wave
There is a good probability that Dow Jones completed a bearish flag today. I initially expected this structure to finish overnight, but the market forces decided to give us one more bullish day.
The correction could still be very quick. If the index completes the blue (abc) formation within the target rectangle, that could be the entire correction. However, if the next wave down extends beyond the blue rectangle, it would raise the risk of a much more serious development, potentially wave (iii) in red.
