There is a potential 5 down in place but it so far lacks the confirming price action.
So for now I'm going to expect a more or less simultaneous retest of the 500 failed support area and a test of the 20 MA and assume the trend remains down until proven otherwise.
Bouncing back to the EW interpretation, new lows might be fairly profound as that would indicate that this 5th wave is subdividing which would lead to 2 more impulse waves to the downside and a substantial move lower in price and a fair amount more time consumed.
Re: continuous CRB
I'll try to listen to the market rather than telling it what I want it to do.
But I think the Fed jawboning yesterday indicated that they are quite aware of the strong dollar and the deflationary implications.
But not much followthrough in comms as of this AM, crude particularly.