Thursday, October 1, 2009

SPX 10/1 - Running Flat (ii) Revised

So it looks like the minuette (i) for minute [iii] was not quite complete. I adjusted some of my labels to better reflect the count. This actually looks better to me and I think works because the (c) of the minute [ii] shows a complete five waves, with wave 5 truncating.

Is it correct? Not exactly sure but it sure counts well for me.

I'll try real hard to come up with a bullish count but I think I it will be a stretch. Many still talk about an ED for C but I don't think this count works. I just don't see enough of a three wave structure to count that way. But I will take a lot and see if I can post a count.



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