Wednesday, August 18, 2010

8/18 3:50

The only way that my top 2 counts make sense it to count the move from today's low as a 3 wave.  The top count has a new high to complete an ABC.  The 2nd is an ABC from today's low which is already completed.

8/18 2:55

Showing 3 up from this morning's low.  I hope it holds here.  My count is that we are in a C wave which requires 5 up.  So my count is for a new high.

8/18 2:30

Possible wave count calling for 1 more high to 1102.

8/18 1:25

My target is SP futures 90-minute M/A

8/18 1:20

We have completed 5 up from this morning's low.
My view is that the breakdown from the rectangle never got a 5 down.  The low SPX was 8/12 at 1076.69.  From this point we could be in an ABC with a new high completing the C wave.