Tuesday’s trade was wild, crazy and wooly! Everything looked to be in line with expectations until 10 AM and the JOLTS data was released.  It sent equities sliding lower, treasuries screaming higher along with gold and silver pushing higher.  It happened very quickly – and was an astounding reaction to a piece of data.  The banking sector began to get hit again with the KRE sliding lower — PNC and Zion took a strong hit – sellers showed up and pushed GS, JPM, BAC, WF, and C lower — it was hard to keep up with all the opportunities and directional changes.  However, I have adjusted the labeling and the EW counts t0 reflect yesterday’s highs as the completion points for Minor 5th waves, Intermediate C waves, and for the cherry on top – Primary B waves.  Now having said all that – both the NQ and the ES need to push to new lows below what was seen this morning — once that occurs it will form 5 waves down on the hourly charts.  If it doesn’t happen, it leaves 3 wave patterns down and continues to allow for another rally to new sequence highs as previously discussed.

Tomorrow, premarket the ADP employment report at 8:15 AM EDT , at 9:45 AM EDT S&P U.S. services PMI, 10 AM EDT ISM services and at 2 PM EDT – The FED decision followed by the press conference at 2:30 PM EDT.