There is too much overlap to confirm a 5-wave up from Tuesday's low. While overlap is an ordinary occurance in this volatility, the DJI, SPX, and XMI overlapped. While I'm not ready to throw out the count I need price to confirm to the upside.
Nasdaq count is different than the other indices. It looks corrective.
In order to confirm this uptrend the market must break resistance today or tomorrow. The market action since 5/25 can be interpreted as wave 2 behavior but soon it must break up to 10,250. I1 is up but only guarantees that a killer wave will not appear. I expect a retangle to form and be broken to the upside today. If not, I will look to the 30-minute futures support to either hold or indicate the downside action.
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