Is there is a possibility of P2 having topped out today? It may have, the only issue I have with that is P2 is a 5-3-5 zigzag, so (C) should end notably higher than (A). It does not look that way right now.
@ 4 PM
The bond market's reaction today may be signalling something very significant. US is headed exactly where Greece, Ireland, Portugal......... and several more are headed.
Yesterday's addition of 900 Billion to the deficit is nothing to chuckle about. Bond Market dislocation is what will accompany P3 in the stock market. The remaining life of P2 got a lot shorter this week.
@ 10 AM
The expanded flat count has been invalidated this morning. The July lows will have to be intermediate B. The leg up since July 2 is intermediate C.
We may have just seen the top of Minute 1 of Minor 5 of Intermediate C this morning.
Will try and update the higher degree charts with the new count later in the day.
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