Good evening everyone.
DOW JONES INDUSTRIALS
The DOW has just drifted sideways today off Mondays high at 26238.
the current wave count calls for a sharp drop to begin in wave (iii) imminently.
If we don't see that drop tomorrow,
and the price rallies above 26238 again,
that action will trigger the alternate count.
And then we can expect wave [ii] to complete the larger three wave pattern as discussed.
I have not discarded the current wave count yet though,
and the reason is simple.
We are so close to that tipping point down into wave [iii] now,
that I am on full alert.
Even a fall back below the declining trend channel line could do it.
So just be careful here!
Watch for 26238 to hold and wave 'i' of (iii) to spike lower.
A break of 25238 will signal that wave (iii) is underway.