Wednesday, July 8, 2009

ES

Here is an ES update. Not exactly sure what the current count should be. In the attached chart, you will see that the wave I have labeled 4 has overlap with wave 1. This is no good. That led me to believe that we were not in a C leg down, but instead part of an expanded flat. It can not count as a ending diagonal either. Is it possible that 1 ended at 75.25? Just not sure folks.

Regardless, it appears that we have finished a little 5 wave structure off the 883.50 H. The labeling may not be the right degree. As of now, we are working on a 5 wave structure up. This will be an A or 1. Let's see how this pig unfolds.

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