The NASDAQ is in a similar position to the S&P. The 4179.74 low on Monday (Jun. 27) in the 100 index is the start of a rally that will eventually carry prices well above the April 19 high (4574.38). Wave i (circle) made a high at 4453.86 on July 1. Wave ii (circle) either ended at 4375.72, this morning’s low, or it will do so with another decline in the coming day or so. If there is another wave down, potential support areas are 4349-4359 and 4317. If this morning’s low marks the end of wave ii (circle), the index should be strongly higher tomorrow and continue a persistent rally well into next week. A break of 4179.74, the June 27 low, would negate the bullish case.