Wave chart 2:45 pm

Here is an updated wave chart. The drop from today's high at 876 amounted to a little more than 10 points, more than the two previous down waves today but less that the two reactions we saw yesterday. Since the preceding up wave was a strong one and since I am basically bullish I bought one e-mini unit at 867.00, at the support indicated by the purple dashed line - this was the breakout level. If this trade is any good the purple dotted line will hold.