The risk of a violent reversal in the Dow is high. There are currently 3 waves down from the May 8th high and 3 waves up from the May 13 low (expanded flat). The 3 wave movements may be the first 2 legs of a flat (waves A and B). A flat contains subdivisions 3-3-5 thus wave C is expected to begin soon and decline in 5 waves. The objective is below 8230.
