is this wave 4?

I doubt if this is wave 4. The market went up strongly today because it was deeply oversold. You could see this by looking at the stochastics for the S&P index. Go to www.stockcharts.com/ and bring up the $S&P chart. This rise may continue for a few more days. We are still in wave 3. The best strategy imho is to stay short and wait for wave 3 to work its way down. The major trend is down. There will be a good opportunity to go long after wave 3 is near completion.