Gumbo, Kevin, mirae, and ToddyMC were helping me to figure out this stupid sideways wave. I was thinking that Minor B was done and that we were in 1-2 of Minor C. But we kept grinding lower and lower. On the SPX, INDU, NDX and COMPQ we did not make lower lows than the Nov 30th low. But mirae correctly pointed out that there were lower lows on the OEX and NYA.
Gumbo, Toddy and Kevin all kept saying that this was still part of minor B. (Kevin has a great count here: http://marketthoughtsandanalysis.blogspot.com/2009/12/duck.html#comment-25311303) And, blockhead that I am, kept thinking beginning of C. And based on the plethora of confusing waves (trademark of a B), I should have thought B.
Well ... I am back to the B .... again .... :)
So Thank You! to my "counters-in-arms"
