The Dow is a little confusing, it is so erratic, so lets have a look at Walmart. Walmart gave birth to at least 4 billionaires and it just happens to be the largest civilian employer in the U.S. Also the stock has done well over the past forty years. So three of Trump’s favourite things.
It is also a marvel of EW, adhering to most of the rules religiously. Particularly the 5th wave is clear as a bell. It is a diagonal, read wedge, only rather than terminating into a point it does the opposite and widens out. These structures always occur just before the end, that is the peak. Then they virtually always retrace in their entirety. In this case that calls for a drop to , at least, $47 or so which, coincidentally, happens to be close to a Fibo 62%. So far the stock dropped from $110 to $85, or 22%, in just over two months. Worldwide the company employs 2.3 mln. people, in the U.S 1.5 mln.
No more Chinese imports, no more jobs, no more stock market gains.