The past few days, the markets have been tracing out their Minute wave [ii] bounce. And so far, the bounce looks corrective, unlike the previous bounces we have had from past down moves.
My primary count is that the SPX is in Minuette wave (b) of Minute [ii].
The alternates are labeled on that chart. Alternate count says that today was only wave a and b of (b) and we get c down tomorrow, before going up. If not, we start going back up tomorrow towards 1115. We need to break yesterday's high of 1104-1105 to start heading up again.
Over the weekend, I posted a chart of the UUP, which is the ETF for the US Dollar.
So far, it is playing out pretty well. I expect the Dollar to be going up.
The Nasdaq is the lagger for now.
This is just a rough count, but it shows that the Nasdaq is a wave behind the Dow and SPX.
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