There are far too many differences between the big indices in wave action giving us far too many options at any one time. Now the Midcap SP500 stocks do not have this kind of a competition and shows us a completely different wave count as well. It also means that the Midcaps could also be a good leading indicator for all other stocks.
Right now the Midcaps have crossed to a new low with a 3 wave crash in which case we have a diagonal decline, or a small wave 3-4-5 still needs to get added on. Right now we would also be at a double bottom from which we can bounce from, but many of them are false bottoms as well.
This Midcap decline is the closest to an impulse decline I have seen in any of the stock moves, which