The market gapped down and broke the 50 day ma briefly before recapturing it at EOD. I think this is the level to watch as a breach of this level will likely bring lower lows. And now that we officially have a government shut down, the excuse for bears to take control is in front of them. So we'll just have to wait a few more days and see how all of this plays out. Looking at the waves, I extended the labels and made the entire structure a 5 but this is a very choppy structure. So the market might just be preparing a base for a new rally once all the political stuff goes away.
Short Term Trend = BearishMedium Term Trend = Bullish
Long Term Trend = Bullish