INDU/SPX is in a similar spot as the two main ES options - wave iv (purple) rebound or impulse complete at the low (red, blue) (Chart 1).
However, if one sticks to Precther's EWP strictly - wave 3 never the shortest - waves in Transports suggest an extended 3rd wave or a double zigzag yet to complete (Chart 2). The red [1][2][3] in chart 2 should read i, ii, iii to make the degree consistent.
INDU/SPX is not subject to this dilemma. While it is possible the decline in INDU from the nominal high (gray) is a completed double zigzag or a completed five-down (blue, red),it's prudent to leave room for at least one more down swing.
[830am] DAX, ES, DX update -
DAX - around equality C=A ES - At the moment, "endless" extension makes 9 waves down from the black B and 7 waves down from the green B, and 11 waves down from the nominal high of 1272.25. This decline is where benefits of not rushing the wave count show.
DX - USD about to break out upwards
