This is a quick look at the DOW and NASDAQ in real time:

DOW – The DOW is WELL past 382 and we’re obviously not going to see a 5 down here..we got close to a full 618 retracement in a half hour in the DOW… full 618 would be 17650, and if that breaks this week that would validate my bottom call from yesterday..the 3 is over, and the 1-2-3-4-5 down is over.   786 retracement would be 17,750 and could happen on tomorrow’s fed decision and the violent moves the market usually has when the news is out.

NASDAQ – NASDAQ is well past 382 as well and the full 618 would take NASDAQ to as high as 5062-5065 as soon as intraday..the momentum is incredibly strong right now and there’s 0% chance we see a 5 down here…bottom came quick this morning at the open up to now at 10:00AM ET… best case this week is 786 being taken out at 5100…that would 786 of the entire zigzag that has formed since the beginning of December.