This flush that began last month is very characteristic of a wave C. As you may recall, I never liked the wave structure off last Dec 2018's low. It looks too much like a three-wave structure. Because of that I have been looking at a potential flat (previously some form of running/expanded). I think this count works and the flush is consistent with a wave C.
This count plays with a quicker recovery in the market with all the stimulus being thrown at the market and COVID-19 infection rate slowing down in the US.
For the bears, the alternate is in orange. A larger corrective wave that could play into a head-and-shoulders pattern.
Let's see how high this bounces first.
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