Another big day for crypto and crypto related assets. BTC, ETH and MSTR all had strong day. On the other hand, Energy confirmed a sell/short Signal, leaving only precious metals, miners and cryptos on long/buy Signals.

The bullish count needed to be updated to accommodate the lower low. Minor wave 4 is now shown as a complex corrective abw,x,aby,x,abz. This wave must find support above the minor wave 1 high that is marked by the horizontal yellow line about 15 SPY points below the new low. The bullish count is now looking for confirmation that minor wave 4 of intermediate wave (1) is complete. Once complete, another leg up in minor wave 5 to complete intermediate wave (1) should test the previous all-time SPX high.

The bearish count is that the next big leg down is underway. Primary wave [C] of Cycle Wave II is underway. Primary wave [C] will consist of 5 intermediate waves. Intermediate waves (1) and (2) according to this count are complete and now the most impulsive wave, intermediate wave (3) is beginning its most impulsive leg, minor wave 3. If the bearish count is correct, then intermediate wave (3) should test the previous correction low of primary wave [A].