Thursday, October 20, 2011

EOD Update

EOD Update

Still lots of chop here. I'll maintain the counts in the same order though I'm starting to like alt 3 a bit because of all the chop.

For the primary, alt 1 and alt 2 counts, we should know very early tomorrow if they are still legit the way they are labeled because a wave 3 gap and go up should be the first thing to occur at the open based on this count.

If this does not happen, we have to respect the fact that the move off the 10/18 high may be a wave 1/w down with the reversal today as a wave 2/x.

So if the market heads down at the open and breaks below 1210, most likely  wave e of alt3 is playing out or the alternate wave y of  the primary below will be considered in play.

The 3-Push pattern (last chart) may be in the works to.

Primary


Alt 1


Alt  2

Alt 3

VIX
3 Push Pattern Complete?
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