Dow (19,251)
Dow set another record high on Tuesday.
If Dow is well behaved, it will complete its wave (v) within the next few days. The next question is whether this major wave (7) has 5 or 9 waves. If it has only 5 waves, Dow may go into consolidation until Trump officially takes office as USA's 45th president on 20th January 2017.
But at this stage I can not rule out the possibility of a 9-wave major wave (7) as shown below.
From the long-term chart, we need not worry too much about the major wave (8) correction of 10% to 15%. It is the mega wave VIII correction that we have to worry because it can drop as much as 40% to 50%.
