DOW – DOW could be in the middle of an upward 4, but at this level would need to rally another 80-100 points to confirm a full 382 move and possible bottom…best case scenario is a “double bottom A or C” wave with 5 waves down near completion…we got this touch and go bottom reversal a month ago..same style.

NASDAQ – All NASDAQ needs to do is hit 4975-4977 and a 382 upward W4 retracement would be in play and formed..if we get that the entire downward 3 we’ve seen since last week would come to an end and all that would be left is a 5 down and reversal..the positive move we’ve seen today was quite important in stopping the scary ferocious downward C and downward 3 in the past 2-3 days.