EOD Update
I think today's action is signaling the start of the corrective move down for
wave (2) of the primary blue count.
 |
| 1m- Primary |
It looks like wave X green may be deem complete and wave Y began into the close. I have an option there whereby wave X may be an expanded flat and the dip into the close was only wave b. If so, I still believe 1207ish will cap a wave c bounce to complete X.
 |
| 15m - Primary |
If Y is in progress, I like a target near 1170ish. This would also line up with an approximate 38% retracement.
 |
| 15m - Triangle Alternate |
We can discount this count yet. I can easily see the market triangulating the rally here to consolidate the price action before taking another stab at a new high.
 |
| 15m- VIX |
VIX may be in line with the primary count above. After completing a retracement to approximately 35 after five waves down, I can see VIX heading back down once more. We'll see.
