Tuesday, August 3, 2010


SPX - 15 MIN - 8:30 AM
This is actually what may be happening. The reason for this count is the fact that off the high, I count 5 waves down and now the bounce up is looking like 5 waves up.

You don't really see that combination unless the first set of 5 waves ends a move, which by this count makes for a wave [4] flat.

 I believe this is subminuette ii down of minuette (iii) up. This count is out if ii retrace beyond the start of i.

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