SPX, Russell, and Nasdaq count as wave iii of (iii) in progress.
The alternate is that a 3-wave down completed today and the bull market continues. Obviously I think this is a low probability. However, until critical M/A is broken the odds are 1-3. The futures need to hold first the DJ 10-minute M/A then the SP 30-minute M/A. I'll short YM on the return to it's 10-minute M/A, currently 12,705. Stop 38 points beyond.
The dollar is in wave iv of it's final wave and is poised to decline to final low.
I sold 1% ZSL at 18 this morning on the expectation that the dollar would break down then. Instead is returned to the middle of it's rectangle and silver declined.
Gold finished what I count as it's daily chart 4th wave and a nominal new high should coincide with dollar low. Ordinarily I would expect a triangle as gold's 4th wave, but the dollar looks to bottom quickly. The risk is that the wave count is wrong and 5 up are complete.
Silver either has completed it's 5 down or will with 1 more low.
I've sold my final 1% ZSL at 19.48 in ARCA after the close. I'll look for a rally to go short again.
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