Bulls unexpectedly scratching and clawing back against the bears today. Bulls may have potentially kick stated an impulse wave going up at least temporarily. Seeing waves 1-3 already formed, waiting for completion of wave 4 before going higher to complete wave 5. For long traders, the safe bet would be to wait until it clears above wave 3 at around 7500 before entering into long.
Riskier traders could attempt catch the bottom around the green box to anticipate continued upward momentum. Trade with caution, a break below the green box would invalidate the uptrend count and we will be seeing lower lows.
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