Market did a puzzling price action after CPI news no doubt wiping lots of leveraged shorts and longs. Eventually it seems to have formed a wxy combination as indicated on the chart which adds a tiny bit of confidence in the count. Also, such combination might indicate a bumpy road ahead. My experience is that wxy combinations in the begining of a trend signal wave B which means that complex wave X (potentially a triangle) and bumpy double zigzag Y (with possible diagonal) are ahead.