Sunday, March 27, 2011
Minute  Complete Option
This is an option that I came up with in response to a comment from Kal from my 3/25 EOD Update. Based on this count, minute  is in at the 3/16 low.
A leading expanding diagonal completed on Fri or is very near completion. A wave 2 pullback should be expected.
I previously pondered this option since I suspected that minute  may have been complete at the 3/16 low. I removed the option when the numerous overlaps occurred after the bounce.
However, with this potential count option, I'll say it is back on the table as an option and given that I posted a potential impulse count for the INDU, this may very well be valid.
I have posted the INDU chart again below.
ALTERNATE SPX VERSION
This version would imply that minute  is an ending expanding diagonal with wave 3 of the diagonal in progress. Something else to consider.