Dow Wave Counts

Below is a nine month Dow chart showing the wave counts. Click to enlarge.

Minor Wave Four

The swing down from the November high could be the first wave of minor wave 4 from the July low. Unless it forms a larger zigzag, Tuesdays low may be the price low of minor wave 4. If that happens, support is at Dow 10900.

Minor wave 4 would then be followed by minor wave 5 to new highs and then a larger major wave 2 correction. A move down to the next support at 10700 may indicate that primary wave 2 is not complete.