Thursday, December 15, 2011

Primary Daily View

The triangle chart I have been posting since last week got me to thinking about the bigger picture and alternatives for my primary count.

SPX - PRIMARY
The main count here calls for a Primary 2/B/X flat in progress. At the moment I am looking for the completion of minor [b] of Primary 2/B/X.

Notice I have left room for the completion of Primary 2/B/X at the 10/4/11 low.

SPX - PRIMARY ALT 1
With the triangle that I have introduced, it is very possible that Primary 2/B/X may be forming a triangle itself. Rule-wise, this would not qualify as a triangle for Primary 2, however, a complex corrective count mean the same.

SPX - PRIMARY ALT 2
This option is very similar to the primary count above but instead of forming a flat, minor [b] is a triangle with minor [c] to come somewhere near 960.
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