TRAN, MID and RUT reclaimed their respective February highs today. Market breadth is respectable for the day. These developments increases the odds of a "minor wave 5"-type advance ...... but does not kill the bearish wave [x] rebound:
Across indexes, the market is finishing up an extended wave [iii] from the low based on the bullish count - totaling 7 or 11 waves depending if one counts the subwaves of wave [i]. A wave [iv] pullback is due soon if not already in progress.
Note that 7 or 11 can also be the completion of a corrective wave.
[1220pm] Count update (INDU, SPX) -
TRAN,MID,RUT have reclaimed their respective Feb highs.
[8am] Overnight update (ES, DX) -
