[10pm] Futures update (ES) -
The proposed small degree 4th wave in ES (spx) - iv or  in this chart - is larger than ideal. An expanding ED? A series of 1s 2s? A much more bearish development?
The corresponding structure in YM (indu) has a much better form at the moment. Divergence in the making?
[950pm] USD update and thoughts -
Odds do not favor a bull run in the USD index if the recent low is violated, IMHO. See the first chart. The bullish scenario almost demands that the USD index is tracing out a series of 1s and 2s OR a leading diagonal. Note that the turn from the late 2009 low in the USD index started with a regular five though.
[4pm stocks] The [3pm] entry remains applicable. The following charts offer an update.
Some observation regarding the larger picture.
 The April-July decline is most likely a three, unless one molded it into an unconfirmed LD.
 The July-present rally is definitely a three so far.
 Sentiment of "strategic-bulls" around the July low was most likely very similar to the present sentiment of "strategic-bears".
 With a three followed by a three to date since the April high, there's no confirmation regarding either direction, yet.
 But ....., you say.
 The Chart to the right is for you to decide if it makes sense to bottom fish for the holidays. This chart roughly flips SPX upside-down (i.e. 1 divided by SPX).
[3pm stocks] The larger picture and short term squiggles. Please also refer to yesterday's EOD update for additional comments.