The S&P is lagging a lot in term of decline mainly because the short covering in the energy sector. This is my current preferred wave count. We could be in a complex triangle mid term, and in the short term, while DAX is making new low, S&P could just makes a deep wave B correction and start rally from there toward wave (d) high. Another possibility would be a slower grind to the marginal new low and finish a simpler version of correction. Either way, BUY risk on dip is the play next week.
