Tuesday, June 7, 2011

6/7/11 - EOD Update

EOD Update

This is still the primary count, however, these reversals are .

60 Min

The structure may be counted as five waves down off the 5/31 high and would work as a wave c of the double zigzag. However, see below for the bear option.

Bear Option

So far this counts as a 3 of 3 which is 1.618*1. One must prepare for a potential 3 of 3 of 3 which would imply a gap and go down tomorrow. See the alt labels.

This count as it is labeled would be invalidated if the market rebounds tomorrow and takes out 1311.80, right where the wave 1 low ends.

Also notice that wave 2 blue retraces 1 pretty steep so something to consider as to the probability of this count. Nonetheless it is still technically valid so we must keep an eye on it.
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