The red bear count certainly stepped up to the plate with today's decline.
The 60 min bull count I had been posting over the past few weeks has now been ruled out and some adjustments have been made.
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| 15 Min |
The red count is in control at the moment.
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| Bear |
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| Bull |
This is the next best option for the bulls, however, this is only temporary as this count suggests a much larger corrective wave down is in progress.
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| Similiarity |
I forgot to post this chart last night when I was looking at the McClellan reading. This suggests that [1] is complete and [2] is in progress. We'll see and continue to monitor the similarities.
