SPX Daily - Thursday, Jun 23

@ 4 PM

Today reminds me of the Ambac/MBIA bailout news days. Now it's Greece.

Wondering if this post from Mish indicates a setup for the third of Minute 5 down?

"Papandreou has Serious Doubts Greek Parliament will Take Necessary Steps"

@ 12 Noon

The absence of a 5-wave subminuette (v) is duly noted, we got an abc for it.

Wave structure remains extremely ambiguous.

1) May be Minor 1 is done at 1258.
2) May be yesterday's high was the Minute 4.
3) May be we are still in a combination correction for Minute 4.
4) May be this is minuette i of Minute 5 of Minor 1 down. 

Pick your poison :)
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