Wednesday, September 2, 2009

SPX 9-2 AM Update: Wave 3 Subdividing?

UPDATE #4 (11:10 AM PST): Ok given the action thus far since the beginning of this post, the wave structure has dragged out quite a bit sideways. This could be counted as a double three as well and just about give us a wave iv.

We will just have to see how the wave plays out once this retrace is complete to determine whether we are in another wave 3 or just wave 5 to 980.


UPDATE #3 (10:50 AM PST): A wave b triangle afterall? Targets for c of red 2 does not change. It should be in the same area


UPDATE #2: Here is another way to count this:


UPDATE: I have added this chart below to highlight wave c =.618 x a. A break above 1002.47 will invalidate this scenario. (Thx OCO!)


This is my attempt to count the squiggles since yesterday's fall. It appears to me that wave 3 (I am unsure of the degrees at this time so I have just labeled the waves according to count and not so much degree) may be subdividing.

If I had to guess, I would guess that it is either subdividing at micro or subminuette degree.

The retrace this AM is looking like a zigzag to me, which tells me it is a wave 2 of some degree. I projected an end for this if the wave b is a triangle and c=a. 1005 may be a target for this retrace.

We shall see...


  1. you are absolutely brilliant. i visit your blog as much as dan's and kenny's
    thanks much.

  2. you dont see any kind of retracement getting near the top?

  3. i think it is a rounded bottom, so ready for a bounce-
    To break that supirt you will need another hard 3

  4. where is my c??? ouch? you promised!! lol!!
    lesson:i will never forecast a short time corrective move
    (i mean from the top to where we are now))
    i am going to take a look to your friends to laugh a bit

  5. Thanks Linus! I wish this count had played out. I thought I was on to something. I think my H&S is playing out thought! GL!