US Market - Likely to come down

The current uptrend is likely to be wave B as the volume remained low and the market was not dynamic. Dow's latest cabdlestick is a 'spinning top', let's see whether it will reverse direction on Wednesday.

Nasdaq formed a 'dragon fly doji' which is bearish but need confirmation with a red down candlestick.

Dragon fly doji indicates strong selling at the early trading session, by the end of the session buyers resurfaced and pushed prices back to the opening level. The question here is whether the push-back was due to genuine buying or market manipulation by the big guy.

S&P ended Tuesday with a 'spinning top', same as Dow, looking for reversal.

However, in the next few sessioons if the indices continue to climb with increasing volume, it is more likely that wave (III) has started as shown below. But I still think it is unlikely at this moment.

Watch out for a 'double top' formation when prices approaching previous height with lower volume.