Since the US stock indices declined below the 23.6 fib retrace of the Feb-Apr swing, per DeMark his TD PropulsionTM indicator is now applicable, which means that if the indices move above 23.6% of the drop from the Apr top, there's sufficient upthrust to achieve at least the 41.4% exhaustion area. (Note these are all sacred number ratios, per Larry Pesavento. )
Some of the cash indices achieved that 23.6 threshhold yesterday and the futures did overnight.
Since we are in a bearish overall phase, it's doubtful that this upthrust will move much beyond the minimum target area, but trend exhaustion indicators will give a better read as that approaches/occurs.
