Markets rallied today but on below average volume. Overall the rally from the March 16 low has the appearance and feel of a countertrend rally, i.e. a rally within the context of a larger correction. The SP500 negated the likelihood of a 5 wave decline today which raises the probability that were are in wave [x] of a double zigzag. There are no real limits on [x], but usually would expect no more than a 62% retracement of wave [w]. For the Qs that would be around 57 and for the SP500 it would be around 1308.
I expect the 50dema will be tested next for the Qs. Afterward expect another zz decline to the 200dema +/-.