Wednesday, August 18, 2010

8/18/10

11:09 AM Update
Here's an update to this count. As mentioned below, was looking for that 5th wave up that we are working on right now. Keep in mind, this could morph into a 3 of 3 up as well.

The bear count calls for a higher high as well.

8:45 AM
So far I count 4 waves up. Looking for a 5th wave to complete wave 1 of one degree higher. MACD on the 15 min is showing that a 5th wave up is most likely in store.

I will also add that this may be a nested 1-2 off the 1069 low.
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