On Monday, I noted that SPX appeared to be only three waves down to 5853, and that low has held all week, leaving the decline still just three waves down.
On Wednesday, I noted that INDU was facing an interesting test of the blue breakout line, and so far, it's bounced pretty strongly from that support zone:
COMPQ has remained range bound, bouncing in between resistance and support lines:
In conclusion, still no change from Monday's conclusion, which, in short, was:
Thus far, we don't have an impulse down, though, either -- so I don't presently have any hard targets until the market either proves it wants to change trend or shows it wants to keep the decline as a three-wave correction.
We'll see if anything new happens today or not. Trade safe.
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