I guess I didn't miss too much today. It looks like the nested 1-2 count is out the window. However, I don't think the count is out for the bears just quite yet.
The top chart is one potential count I am looking at. I find the structure very interesting. The subminuette degree waves appear to be very similar to the larger (minute) degree wave structure. The color coordinated arrows on the chart highlight the similarities.
Is it possible that both wave twos (minute and minuette) are expanded flats? I will post more later on this over the weekend and highlight the wave ratios, which indicate that this count is potentially one valid option.
The alternate count is also posted up top. Price climb higher ever so slightly.
It is getting close to the mid-channel (black) line and wave 5 of the alternate count shows the beginning of a possible wedge formation. Wedges indicate that a move is coming to an end.
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