Market meandering so far

The market stayed in negative territory for the entire session today, but otherwise continues to hold above yesterday's low. Therefore, not exactly the strongest or most convincing start if price does intend to still follow through as something bullish off yesterday's low. However, as long as yesterday's low continues to hold, this is clearly still only 3 waves down from the September high so far.

While I would interpret a corrective pullback off last week's high as wave (iv) of a larger impulse off the September low, Avi has an even more bullish option of a wave 2. Either way, the best odds for a bullish resolution and at least another high being attempted rely on yesterday's low holding. Breaking below there would be the first warning sign that we may have a more significant top already in place with further evidence of such on a break below 5675.50.