[Update - Count Invalidated - Likely this morning's rally was only the 'A' wave]
End of Day Count for Aug 30 2010
Okay, volume was non existent today so there may be false signals out there. Based on what I see this is my best Count.
10 Minute Count
2 Hour Count
Daily Count
A Critical line to watch
1540 update on Aug 30 2010
We are either in nested 1-2′s today or have just completed a Leading Diagonal. A wild move up or down will soon unfold.
Intraday update at 2.29pm Aug 30 2010
Not sure on this count yet, however best bet so far. Notice the bounce at the 23.6% retrace.
Primary 3 – Does it exist?
If it does then this Fan Chart could show what will happen next
3 Heads and 6 Shoulders
And which one will play out? Generally it is the one over the longest timeframe, however we are entering a pre-holiday week so….
End of Day Update on Aug 27 2010
The PPT launched their Shock and Gore initiative on the Bears, and managed to get a very bullish candle to close an otherwise bearish week. Oh and the Government finally admitted that the economy was headed down the toilet and the FED almost admitted that they are powerless to do anything about it. Go Figure!!
Update – As any long term readers of this blog know I keep several counts both Bearish and Bullish. I try to synthesize the thoughts into a synth count, which I publish regularly. The Bull count below is mt top bullish count. Although I do not have it as my highest probability overall count – it is still a valid count. To see an earlier version of this count look at my post from April 27 http://www.apartofny.com/2010/04/primary-spx-counts-updated/
Counts below, click on the chart to enlarge:
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- 2 hour Primary Count
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- 5 Minute Primary Count
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- Daily Primary Count
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- Alternative Bullish Count – Dailly
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- A look at todays Ending Diagonal
Shock and Gore the Bears
I am still going with the 1-2-1-2 scenario, even though the 2′s are getting streched out and complex. I just have not seen a real wave 3 yet. When this 2 is done we should fall back into the lower channel. Updated count below:
Tricky little Market
Another a-b-c moves to a w-x-y.
