Brief Update: Three Waves Down

There's almost nothing to add since last update, except to note that the market has now formed three waves down.  Last update discussed the possibility of SPX and INDU forming an impulsive decline and the "to B or not to B" conundrum that would place us in, but this is the first hurdle (three waves down) before we get to that place.  So it's wise to at least be aware of that.

In conclusion, there's very little to add to the last update, except as noted above.  Trade safe.