DXY, the US Dollar index has super clean bullish micro count that argues that wave 3 up has not topped yet:
The flat (a)-(b)-(c) down consolidation (see the red labels) looks completed and argues for the final spike up in subwave (c) of wave(v) of C of 3 up targeting 118.40.
Bulls will most likely not be able to start the Christmas Rally in equities and commodities until USD tops out in wave 3 up. A pulback in DXY in wave 4 down (see the red path on the chart) would be able to power a rally in equities and commodities later this year.