NTSE Composite

The US market shows a 5 wave rise which marks the direction of the trend. So if this is even a counter trend move we completed wave 'a' of the move and are now dipping in wave b. The next significant move will then be wave 'c' up. The depth of wave b down cannot be assessed, it can stop here or dip to the 20dma before it is complete. What we can know is that one more leg up is pending before we say 'Top'