The sell off early today did have an impulsive look and some what felt impulsive too, however market breadth wasn't too confirming. It was near 7:1 at the lows. The movement late in the day did not look like a reversal though, but more like sideways consolidation.
Not the mention, the entire move down from the highs looks like a mess. Despite having some decent down moves, it still lacks that impulsive look.
Unless we can get a decent down move in the next day or so, I have a feeling we could crawl all the way back to the highs.
As for the wave count, I am keep going to moving wave iv down until we break the wave ii low.
1121 is the next major pivot to the downside if today's low of 1131 is taken out.
Charts of the day will also be updated shortly.
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