The market remains in a downtrend, though wave analysis indicates a potential end to the current trend.
At a higher time interval, an ascending wedge continues to form. A downward corrective wave [iv] has been formed in this movement by this moment. Once this wave is completed, the formation of an upward wave [v] should be seen.
An upward impulse develops on a lower-degree wave structure. Now the price is moving within the final wave (v). Thus, the local trend remains upward.
To summarize, at the moment the Dow Jones chart is maintaining a downward movement vector. However, the corrective wave is in the final stage of formation.
In this situation, long positions are prioritized.
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