a first down move as wave w of minuette degree seems to be ended, so a bounce in wave x is in progress (now we could be in wave [a]/[w] ) .
the new main count is always bullish (wave 5 minor of wave (1) of intermediate degree), but pay attention: the bounce doesn't appear as an impulse pattern...
The first alternate scenario is bearish: the uptrend (Alt: (x) ) is over; now we are in Alt:b/x of Alt: (z)
My preferred scenario (very bullish) is confirmed: we are in wave [ii] of 3 of 1 of (1)
Alternate scenario; the intermediate triangle pattern is still underway.
January 2, 2013 has completed the multi-year triangle wave [B] and started the downward wave [C] of primary degree; the wave 1 of (1) is finished, now we are in the wave 2 minor .
New preferred scenario; wave [y] of wave y of minute degree is ending and after the completion, the downward move continues.
First alternate scenario; we are in wave Alt:1 of 5 , so wave (1) is not ended.