Friday, August 21, 2009

Minute 1 of Y

This is my best attempt at counting the sub-divided wave 3 that makes up Minor 1 of Y. Given this count, I anticipate a little push higher to complete Minute [iii] probably near 1033 if wave v (green) = .618x wave i (green).

I would think that Minute [iv] would retrace at least into the 1018-1016 range to fill in the gap below. We will see.

Bottom line, there is more upside expected.


  1. There's too much risk to the upside. Prechter called the bottom around 600's (I went long on February 25 and triple my $$). Now I'm 60% short as of Friday. Sometimes we have to follow the Best investor to make money.

  2. Jones

    I think u meant to say "too much risk to the downside " and I couldn't agree more. However this is an objective attempt to count what is before us. I will post another chart shortly. Hopefully it may shed some light on what to expect.