My thesis is still a downward trend. However, we now need further confirmation by the Transports falling past the shoulder of the head and shoulder pattern they created over the past few months.
The Dow has already sunk past the level of the start of it's previous intermediate cycle. once the transports confirm, we will need to wait for an initial bear market low, followed by confirmation of a second bear market low. That second bear market low is my next entry point - and it'll be a back-up-the-truck scenario.
