This count is out if we see a 4-1 overlap at 1088.96.
[8:18 AM UPDATE]
|[8:18 AM UPDATE]|
For this scenario to remain valid, 1088.96 should not be breached. The Fibonacci retracments as mentioned yesterday are possible targets near 1099-1086.
|SPX - DAILY|
|SPX - 15 MIN|
I also said at the close yesterday that I was contemplating changing the degrees for this minute wave [iii]. I have made the change here this AM.
By this count, the move off 1056.88 on 7/19 is only minuette (i) of minute [iii]. This count goes away of course if 1056.88 is taken out.
And of course if one were following the bear count, this would be the final 5th wave up to complete wave C but it may very well only be wave 1 of C. Keep in mind, in terms of Fibonacci ratios, wave C=.618A. However, C=A=1145.