These are the 2 probable questions most of the traders have in their mind !!
Let me try to answer by the wave pattern
As per the wave possibilities which i see both are possible
If the present up-move goes as Wave B - Then it can surely touch 11K within the next 10 trading days
following which - a fierce wave C can unleash next month - around the time of election result which can take us down to 10k
All wave counts are work in progress & are meant to aid trading I use Elliott wave count to help in my trading &i am willing to accept i could be wrong & knowing before hand what i will do when i am proved wrong...
The only thing that are guaranteed in life are Death & taxes....... (Benjamin Franklin)
Please check if this is B wave or C wave. Consider 10140 to 10700 as wave A , 10700 to 10040 as wave B, 10040 to what is happening wave C. Check length of wave b in comparison to wave A(125% retracement) and check rules for length of wave c in this scenario.
Also the wave wave 1 that you are considering did it make a higher bottom to be considered as wave 1. Please check your count.
Also the wave wave 1 that you are considering did it make a higher bottom to be considered as wave 1. Please check your count.