Russell

The Russell has Broken down under the I-Cloud which is Bearish,But there seems to be Mixed signals on oscillators. Price Is Testing a support Fib and the Bottom of the pitchfork. Wave 3,s to wave 4's have a habit of breaking the Pitchfork. I believe this is a wave -b-, This would fit in with the rest of the Indices's for Forming wave (III). Of course a Break of support could get nasty real quick.

As for the Market as a Whole I'm expecting a Higher High for wave (III)'s and then the wave (IV)'s. I would only suggest Short term In&out trades for now because the risk to reward for anything longer is too great.