The first chart on INDU illustrates.
[Green - bullish] could be working on an LD off the October low.
[Blue - bullish] a potential triangle as X-down from the October high may have ended at today's low or with one more decline as (c)-down of [e]-down.
[Red - bearish] today's rise could be concluding [b]/[ii]-up with [c]/[iii]-down to come shortly. The proposed [b]/[ii]-up is itself a triangle-like structure. If one is a purest, odds favor [b] over [ii] under this interpretation.
The second chart shows the squiggle count on ES from today's low. So far, we have a zigzag-up with potential for it to morph into an impulse wave advance.
[2pm] INDU squiggles -
Potential EDT? And from a bearish perspective, end of wave [b]/[ii]-up?. From a bullish perspective, initial impulse of the post-triangle thrust. See the 2nd chart blow and the chart to the right. [1pm] INDU squiggles -
watch the bearish count of an expanded flat x, and the green trend-line. Otherwise, breaking out upwards.
[1140am] DAX update -
The week is young. But there's a decent looking five-up from today's low in DAX.
[740am] ES update -
Momentum of truth for the potential triangle. Triangle or not, a bunch of threes so far, so leave room for small and large wedges or even a bearish triangle [b]-wave (red trend-line).
