I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Wednesday, August 12, 2009

Revised Count for Wave A .... again.

Okay, ready for the shock of the century ... binve is calling the top of Wave A !!! .... again ! .... (for the 10th time) .... .... sigh.

Actually I am only going to list this as a possible count. There could be more development in Wave 5. But Right now Minute Wave 5 =~ Wave 1 (orange on my charts). And based on the massively extended 3rd and all of the head (and heart) aching Wave 4 consolidations, it seems to have a nice symmetry now.

Additionally, one of my counting philosophies is to have the same count for SPX, INDU, NDX, COMPQ, and RUT. My logic goes like this: These indices are cross-sections of the US economy. They all contain Health Care, Financials, Consumer Services, Energy, Tech, etc. So (IMO) the *best* count is the one that works for all of them. Sometimes you are not able to make them count the same. But usually you can (e.g. If you have a valid 1-2-3-4 on the SPX, but 4 goes into 1 on the COMPQ, the "better" count will usually end up being a 1-2, 1-2 for both indices).

The count shown below works on all 5 indices.

Anyways, here is my count.



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