Wave "a" down almost over

Market reached oversold on the 1-hour chart and almost hit the 50 EMA on the daily: Wave "a" down almost over.

Next, expect a bounce up ("b")

Weekly: We have completed v of 5 of a wave that started in April 2014 - now we are looking for a new trend.

Daily:  Short term descent almost reach 1st target: 50 EMA

Hourly: On the 1-Hour chart we see oversold conditions

Interpretation: We are on hold

Next: Bounce up wave "b" expected