Dow Jones | Is the Fifth Wave Expanding?Dow Jones Industrial AverageDJ_DLY:DJIMehdi_Abbasi_EWPWave (IV) in pink, the highest degree of this structure, ended in March 2009. From that point, the market entered a structure that may be the beginning of Wave (V) of the highest degree. In equities, an extended fifth wave is also possible. So the key question is this: We were looking for an Impulse pattern, where V? in turquoise was expected to mark the end of the structure. But what does the equality with the initial wave tell us? Are we dealing with an extended fifth wave, or is the current structure part of (V) in blue? At this stage, it is also possible that I, II, III and IV have already completed and the market is now developing V in turquoise — or that we are still within III, with the structure expanding to a higher degree. Within the orange structure, if a correction develops, our initial expectation is for a sideways pattern, particularly considering alternation with Wave II in orange. However, the black structure also remains important. Conservative Scenario If Wave I is extended, Wave III may be shorter than Wave I. In that case, the relationship between I, III and V becomes especially important, and Wave V cannot develop in a way that conflicts with the guidelines of an Impulse structure. One more subtle point: at the beginning of such a structure, a Diagonal pattern may also need to be considered; its internal boundaries cannot be ignored. Even if a deeper correction develops and First Price Invalidation — 45,419.12 is broken, the larger scenario does not necessarily fail. The corrective pattern and wave degree would need to be reassessed. Ultimately, we are not trying to predict price. We are looking for the structure that best fits the rules and guidelines of the Wave Principle. The pattern comes first. The rules decide the count. Mr. Nobody — Patterns whisper. I listen. 🎧📊 Dow Jones Industrial Average Index Jun 8 Dow Jones Industrial Average — A 130‑Year Elliott Wave Perspecti May 7, 2023 To higher prices in the bull market? Higher or Flat?