Where and when will the 2nd leg up start?
We had the markets close to capitulation as S&P traded below 1200 and DAX below 6000 …
then a brutal bounce … now the correction of the bounce …
usually we should “enjoy” now soon the 2nd bounce to the upside …
As S&P already retraced more than 60% of its bounce, the Dax stands close to the 50% correction …
Monthend is close … sentiment supernegative again …
so … 
I expect the 2nd leg up soon …
This 2nd leg should show new correction highs … if that runs out …
markets will face a REAL test …
So don’t be surprised to see the market BOUNCE again …
Take care and try not to get hurt …
I play it like this … reducing shorts … locking in profits … and waiting for first buy signals …
If I see them … I will play the bounce
BUT wait for the turn … it is about earning money, not being the hero 
