[4PM stocks] The bullish count would have this morning's low as [b] of 2-up or D of a large triangle as the blue and pink labeled counts in Chart 1 and Chart 2 indicate. Please see yesterday's EOD update for additional discussions of these tactical contingencies.
The bearish count would have today's rebound as iv-up of (iii)-down or (iv)-up, as the gray labeled count indicates in Chart 1.
However, the rebound today has traced a decent five with nice alternations (Chart 3). This lend support to the bullish counts AND the notion of wave (iv) instead of iv.Under the bearish count, if today's rebound (a five) is wave c of and expanded flat, wave (iv) is done - otherwise, today's rebound is wave A of (iv).
Under the bullish count, today's rebound is the first leg of a multi-day/week advance.
