With prices pausing at the 61.8% retracement of the recent move up, we’re looking for any possibility to count a completed correction.  The one that emerges is a possible double zig-zag shown in cyan on the chart.

The Euro is testing snowline resistance.  If it holds then we could see more downside for U.S. Equities.  A quick turn lower in the Dow to take out the 6.18% retrace would keep new lows on the agenda.

[Click image to enlarge]

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