SPX, INDU, COMPQ, Gold

Yesterday, SPX gapped down, then spent the rest of the session clawing higher.  As the charts will show, this could be the start of a larger rally, but there are a couple hurdles for bulls to clear first.  I'll let the charts do the talking from here.

First up, COMPQ:

INDU:

SPX:

And a bonus chart of Gold:

In conclusion, the previously mentioned ambiguity at the most recent swing high (to B wave or not to B-wave, that is the question) makes things a little complicated now, but that B-wave option is not dead yet.  Bulls will likely face their first test in today's session (the fourth wave inflection discussed on COMPQ and implied on SPX), which may give us more clues.  Trade safe.