This week off the intraday highs on Wed.
Dow High = 11,697
Dow Low yesterday = 11,348
Difference = 350 pts
From high to low looks like 3 waves
that means to day is wave 4
wave 4 can reach 38.2% of the loss
350 x 38.2% = 134 pts + 13348= 11482 is the highest potential
the first rally got to 11,443 which = 103pts = 29%
is that enuf? -- maybe
Once wave 4 is complete, they give it up to wave 5 which usually = wave 1 but could also be mcu worse.
We have some indications that show the market dropping all next week, with of course soem intraday lifts, but nothing that sticks until Aug1st.
Jay
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