Although the market maintains an upward momentum prevalence, the Dow Jones chart shows signs of a possible end to this trend.
The current dynamics of the movement indicate the formation of a triple three. At the moment, the wave [xx] has been formed. After its formation the development of a downward wave [z] is expected.
In the context of the lower-degree wave structure, the formation of the ABC zigzag is clearly seen. Once the wave (c) is fully formed, a resumption of the trend movement may be observed.
Thus, an upward movement continues to form on the Dow Jones chart, but this impulse is at the final stage of formation so the price may resume a downward movement.
In this case, the emphasis is on short positions that can be considered at current levels.
Альтернативный сценарий