The indices dipped a bit today, but overall there wasn’t much to take away from this indecisive
session. If the indices continue to pull back in the next couple of sessions, it’d increase the likelihood
that a larger near-term pullback is going to form off July’s highs. Other than that, there really isn’t
much debate to have over the wave pattern, because downside action has been confirmed corrective
on numerous time frames, and clear-cut bullish setups exist on those same time frames. That’s why we
have exactly no choice but to be bullish, as long as the indices stay above our key downside levels.
session. If the indices continue to pull back in the next couple of sessions, it’d increase the likelihood
that a larger near-term pullback is going to form off July’s highs. Other than that, there really isn’t
much debate to have over the wave pattern, because downside action has been confirmed corrective
on numerous time frames, and clear-cut bullish setups exist on those same time frames. That’s why we
have exactly no choice but to be bullish, as long as the indices stay above our key downside levels.