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Wednesday, August 12, 2009

Ruhh-Rohh NDX and COMPQ Make New Highs

I had in my previous posts holding Aug 4 as the end of Wave A. This is because there was an ending diagonal in play on all 5 indices (SPX, INDU, NDX, COMPQ and RUT) and there was a Wave E overshoot on the diagonal on all 5 with new highs all on 5. Subsequently the "leaders" (NDX and COMPQ) failed to make higher highs than Aug 4. So I keep counting the recent action as part of Minor B.

..... Well, today NDX and COMPQ made higher highs. I therefore have to concede that we are most likely in Wave A still.

Here is a count that works on all 5 indices. I don't love the count, I need to refine it a bit (this was the closest to me old count), but you get the idea. I think SPX will make a higher high today or tomorrow.

... yea bulls. whoop-de-dooo. ... :)



**edit 3:32 -- In thinking about the chart more. Orange 3 (Minute Wave) needs to move up to where I had the old Wave A peak (Aug 4) and Orange 4 need to move to the low yesterday
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