DOWJONES ELLIOTT WAVE ANALSYS

Dow jones was in a consolidation phase for last one month that consolidation patternturned out to be 4th wave formation according to Elliott wave theory.See first chart the wave started from the big black arrow,Till october panic low thats7900 we completed 3 waves down

Then a possible bearish Flat to complete 4th wave.Come to next chart which shows the expanded 4th wave chart,Which shows (3,3,5)Bearish flat.4th wave ended at 9700.

From there we are witnessing a possible 5th down.The next few days movement of Dow should clear the wave structure to some more extent.Nifty too in 4th wave but we are behind dowjones as dowjones looks to have completed 4th wavewheras Nifty still in 4th wave