Bearish Option: Super Cycle III topped and SC-IV is now underway, which is a many years long Bear. Currently the market is now in Primary-B to the ideal target zone. As you can see, there’s still plenty of room for this bounce to go. Nothing out of the ordinary yet.

Bullish option: “only” Cycle-4 ended in March (a 50% retrace of Cycle-3 is rather much for a 4th wave, but it is what it is in that case) and now Cycle-5 is underway to complete Super Cycle-IV somewhere mid-2020s. Market will have to do five waves up off the March low to make this my preferred count. So far it still hasn’t done this, so it remains my alternate count until proven.