A fair amount of confusion out there,especially amongst the Elliott fraternity (ES was 5 waves but cah only 3 or something  :-) , but my take is that the dollar is looking strong (bad for equities/risk) ,weekly charts are bearish till we get a HH and there is a Gann cycle for a low on the 25th.So leaning towards today being a reversal and more down to come,still think we need to watch Dax,Ftse for the lead...