SPX Daily - Friday, Jul 22

@ 4 PM

The Minor 5 Up count on the SPX. Will be good if we can touch that 78.6% retracement @1380, just for the sake of it.

GLD And SLV  Updated.

The Minor 3 Down count on the DOW. Not breaching the Jul 7 high keeps this count alive.

@ 3 PM

This is how the Minor 5 count on the NDX looks like. 
Keeping in mind, that the Minor 5 as labeled may turn out to be just 1 of Minor 5.

The Minor 5 of (A) was relatively small compared to Minor 1 & 3. The same may be true for Minor 5 of (C). If NDX is indeed leading, we may have a complete (C)  in the coming days.

I certainly prefer a 5-wave structure to the top, instead of an abc we had for the May 2 high.

@ 12 Noon

If the Minor 5 count is unfolding, it will be best if a new nominal high is made, eliminating the Minor 3 down count. Truncated fifth will keep that ambiguity. At least on the DOW it does not look very difficult to do so.

[@ 12:30 PM ] NDX just did that. 

Minor 5 Up count on the SPX. AAPL supports this count.

Minor 3 down count on the DOW