Stocks have satisfied the minimum requirement of at least an initial low. That is, a five waves decline from the recent high (Chart 1, purple).
It's possible that the correction to the Oct. advance is also complete at today's low (Chart 1, gray). Is it possible to count the rebound from today's low as an impulse wave? Possibly - see Chart 2.
On the bearish side, there should be at least one more lower low to complete the retrace-down (Chart 1, blue) or wave (i)-down of [iii]-down (Chart 1, red).
As a result, today's low is a key pivot.
[1111am, 1228pm] ES squiggles -
[11:11am] Approaching the end of an impulse or the end of the 3rd wave of an impulse.
[12:28pm] Given wave development, the red 3 should now read (iii) of [iii] of 3. Stretched?
[1020am] NDX update -
Bull (green) and bear (red) counts. The bearish count has the rebound terminating with a triangle. Expect a small degree bullish (i)-up or bearish(ii)-up next under these counts. [945am] INDU squiggles -
Five-down from the recent nominal high.
[720am] ES, DAX update -
ES counts well as a completed/near complete five-down from its Nov 13th high. 
