Interesting day. The exact subwave count remains fluid. Alternate counts are equally possible.
QE 3 is coming which along with capital flight from Eurozone periphery will gives us the second zigzag up. Once this Wave X bottoms around October of this year.
Problem with the alternate count below, is that wave (iii) looks like a zigzag. So will have to wait and see what develops next for more clarity.
@ 12 Noon
As expected, an abc bounce after a 5-wave decline in progress.
Wave a up, appears completed and wave b down in progress.
Minor 5 Count on the SPX
vega - i'm seeing this count - my 2 cents
ReplyDeletehttp://jeffreygtc.blogspot.com/2011/07/wednesday-july-13th.html