At this point in time I believe there is a strong chance wave ii has completed. For now, some key levels to watch for signs of significant upside strength in the market: (1) ~ $7400 where the market found some support before rocketing on Xi news (2) $8000-8100 level (support/resistance zone) & approx. 200D EMA (3) $9300 - $9500 range, where the market truly began it's descent after falling through support that had held for nearly 4 months
Many are expecting the chop between $6800 - $7500 to go on longer. I will begin to dig for a better picture of the EW count once the market has asserted above the high end of this range.