Not that much to report, but thought I would give you an update on the forming of the potential bigger triangle for wave Y, a wave that completes a bigger "X" wave.

I have been counting the c-leg of the triangle, it's once again a pretty complex affair, so far I have a double zigzag lower.

We have to monitor if that recent low holds, if the potential a-c trendline breaks that probably means that the c wave of the second zigzag is unfinished. The bounce from the potential (c) low is weak, but it could be the early stages of a (d) wave, impossible to say at this point.

If we zoom out a bit and take a look at the entire triangle :

Like I said some additional downside for (c) is certainly possible, they may want to run for the $1 stops, and liquidate some leveraged traders. I do not advice leverage at this point, not as long we are in this very uncertain triangle situation. 

Let me finish with the big picture, nothing has changed :

The triangle trendlines are tentative at this point (dashed lines), the (c) wave could end a bit lower but has to stay above the (a) low.

So that's all for now, hopefully in my next update I can give more certainty of the triangle situation.