Wave Chart at 3:30 pm

Here is an updated wave chart for the e-minis. I am still long a single unit. I was a little distressed by the market's inability to hold support at the purple dotted line near 817, but I always have a plan B for these situations. In this case I was willing to bet that the market would not spend much time below 814, the low of the preceding down wave.

As you can see the current up wave has started to show some good volume, and if it can carry to new highs for the day I plan to hold this trade overnight. Otherwise I'll get out near the close. In the meantime I don't expect to see any prints below 820.

I still have the very strong intuition that this market is trying to turn things around and begin a new uptrend.