The point about the above chart isn't a claim that it WILL drop. It is merely an observation at the moment, of a reaction at a fib retracement level of a prior 3w set. I would wait for a trend to establish itself before getting carried away.
The great thing though is that if you look at last night's post from the smaller tick chart of the NQ, as an example, if we do indeed print a double abc set (WXY move), it is corrective and thus, we will go on to print fresh highs later - thus the top is NOT in for the Dow, indeed, with a larger pullback, we will likely have a long way to go upwards yet...
That is all for the future to tell, but the drop thus far certainly looks like an ABC move...
The great thing though is that if you look at last night's post from the smaller tick chart of the NQ, as an example, if we do indeed print a double abc set (WXY move), it is corrective and thus, we will go on to print fresh highs later - thus the top is NOT in for the Dow, indeed, with a larger pullback, we will likely have a long way to go upwards yet...
That is all for the future to tell, but the drop thus far certainly looks like an ABC move...
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