The bounce to the hourly Cycle Bottom was spot-on. It remains to be seen whether there may be yet another bounce (Micro Wave c) to a higher position. I think not, but reserve the right to be wrong.

Today s day 8 of the decline from the Wave (B) peak. Unless there is some catalyst to speed things up, we may not see the decline end in 8.6 days (mid-day tomorrow). The next potential interval for a flash crash is 10.75 days, which would potentially give us a low on Friday (early afternoon).

VIX is making some steps higher. While consumer confidence (investor sentiment) remains high, few see the need to hedge, leaving the VIX underperforming for now.

Or is it being sold by some large players?

This leaves TNX as the biggest piece in today’s puzzle. TNX is dropping hard again today, which leads me to ask, “Which Central Banks are rigging the market?

If we see TNX break support, then equity markets may crater.

Regards,

Tony

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