Lunchtime Quick Update - Market Analysis for May 10th, 2022

With the market stretching for a lower low, I am still trying to maintain the bullish wave (4) in green, but we are barely hanging on to it.  Today's high now becomes VERY important.  If I am going to maintain this green (4), then we will need to see an impulsive and STRONG rally through that high to suggest that wave (4) is finally done - we really should be seeing that within the next day or so.  Otherwise, if we simply meander and continue to stretch much lower, the yellow count begins to gain in probability.