It is possible that there is first impulse and corrective decline to it in place. That's why under the basic scenario the current rise is considered to be (i). In case there will be clear three waved decline that would make (ii) wave. This situation will present a set up for long. It will be great to see RSX down , and confirmation from RSX with turn up.
There is possible trianlgle in the SP500. That can be a sign of an exhaustion in the current rise. There is still small potential to the upside after this triangle.
In case this triangle takes place that will give more odds to the close end of the rise.
Nevertheless the possible decline is supposed to be only a correction, that could be another second wave.
According to my basic scenario there could be corrective decline ahead. Being only the ii of (iii) of ((iii)) that decline can be a good set up for long. RSX is down.
Alternative scenario - all rise is finished and EURUSD is on the way to the parity.
There is possible new subdivision to the downside in possible wave C in some second or (B) . RSX 1h is still up and there is still no clear impulse to the downside on the smaller timeframe (5 min actually).
Deserve to be watched closely.
Potential set up for the short in EURUSD.
There is an impulsive decline on 15 min. Till now the rise is in the 3 waves.
If the current rise will not develop into the impulse and start the decline, than odds are for the decline.
ALT - this possible decline is only the leg down in some B wave or second wave in the curren rise.
Still NO RSX turn to the downside, so...
There is a possible one more leg up in WTI. The last decline (elipce mark) is not an impulsive due to the overlap within it.
In case that is true to the market there is some potential in wave Y. RSX 1H is to the upside.
Basic scenario - there is the first impulse (which shape is quite questionable) to the upside and EUR is about to start corrective leg down in three waves. RSX 1H is to the upside, RSX 5 min is to the downside. - I consider that this add odds to the Basic scenario.
ALT. scenario - there one more impulse to the downside unfolding.
All in all above mentioned...
There is some potential to the upside according to the Basic Scenario with E of the big triangle - there is possible c wave to the upside
ALT - WXY - C in Y to the upside.
RSX 1H start to turn but not yet though.
There is a downside potential in both scenarios. Whether we have only ((C)) in the wave 4 or it is the new trend and we are in the ((iv)).
If there will be rise in the waves without a new high above the friday one that may form a set up for a short.
Ofcause watching for the RSX for the confirmation.