It appears the 4th minor wave is complete and that the 5th minor wave is in progress. If you use Elliott Wave Theory as your guide, you can see that the Dow Industrials is very clear. Notice in the chart that you can easily see the wave structure from May 2nd. If you are an intermediate term trader, one strategy that you can use would be to cover your short position when wave 5 is complete and go long for the A-B-C corrective rally. The corrective rally could easily last until August.
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