Dow has topped up.. Long Correction Started.. Down Trend!!

DOW has peaked out and the down move has started. Based on Elliott Wave Analysis the ending diagonal has completed 5 moves after which a big correction is expected, giving the confirmation is the Candle stick signal patterns a Bearish Shooting star as well as Evening Star. Expect market to correct till 15500 as 1st Target and then beyond. Looking at Fibonacci Retracement it can correct till 14500 as 50% retracement. Going Short is the way to go with a good risk reward ratio.

Happy Trading!!