One of the reasons I began to doubt the bullish count and lean to the bear count is the mounting divergences we have formed across all US indices (on the hourly, which is suitable for this wave degree). This usually signals that we’re ending a move, not that we’re in the middle of it, nor anywhere near the beginning of it. In order to break these divergences, the indices would need either to accelerate up from here (virtually impossible given the run that’s already been had), or to consolidate quite a bit before making another go. But even in the latter case, I wouldn’t expect to see the big RSI peaks where we see them, so I think the whole move is more likely ending rather than preparing to continue (though of course I can be proved wrong on this).
I will present the divergences here for you. They’re quite sharp and well-defined.