Still building off the count from my last series of posts (EOD Count Sept 17, Mid-Day Count Sept 17 and EOD Count Sept 16). I think we are in the middle of Minute 4 now.
I am showing below on the SPX chart both the triangle and the flat options counts, but I believe we are in a triangle right now. You can see this in more detail on the second chart below of the NDX. Incidentally, I was calling for Minute 4 (Orange) to be a triangle on Friday of last week (Mid-day Count, Sept 11). And so far it is looking like it is panning out.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZ_hoxpHx0uOfyWG0x9r4ZBmmK1SJKdrG2nkS5dXiPWeGbZ0Yl8nrenVVMqZVsIiUzh2j0_wP2J_tQTE1UQJ9XuTeaPvjSnm2vrz9HzwXOSbDmsOYCnzMsNBQd6m7R2HoLrbL4lvriroeP/s320/0binve-001-201.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhghqBRDF9EgeXPlfCneZ32KDdWDSkW6lC4F0oM-Z1huvddtDueDvsxC332SoVNe-laJsPQjsqOOnsGd_Rrb8xE4g1HLvJGrSe2gSlUwembRRJYbqhhh99Bu2X_-0-Q04FmbZ43Kat7R_N6/s320/0binve-001-202.png)
Here are my longer term count and trendline, S/R line charts. The rally still is breaking all of the local trendlines to the upside. I think a move to the neighborhood of 1100 is very likely at this point.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgD354IVtyWMtjjrR4XuuMLJgWnH4cFVCfC99HgjGZv-gLUbR43qMZvNSnq4kMS176eAoqwUGwkOeXn2XlLs99i7z8Komj_uXdnGwgHS4Pmm40Ns0y0sHywSXLxIImpfz7a-nAPDCXMP14g/s320/0binve-001-203.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTB1x_gcUpY5wfrEJuQukYqPpNZyyagzk5JBRQXsJX9XMTx6UHISbktNYHn_rhUwZwph2uTcgkEMhcNO93kzfzEd7n3MSsf6Bplnh-R7cKUJC976WtW79jyD_DrXpDuEWi3lQJCjy6zwBs/s320/0binve-001-204.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyy_rsR9Fyjt3Ouf7gXp45CGrdEVzxHUcgAQzRs-qpjshFf7frQ56fg7DgWXmesy4Ljj0ElU_HOnSVZE8D-3ajPnhI5Tnbojo31kcxpGgH8Y27ju3q40zNtbQgpIDBbLKD88KLXK2hul_D/s320/0binve-001-205.png)
Edit 9/19 11:55 - For Alphahorn
I took a look at the long term chart for IBM (I had not really pulled it up before, very interesting!). What I did was identify the 1999 price peak as the top and counted the large waves down. It looks extremely corrective to me. It looks to me like there is a large double-three at play, or possibly a triple-three (see the chart notes). If the current wave does go above the price in 2008, then I think it is an X wave with the 3rd A-B-C down to follow. What is very interesting is the long term double top that was made. If this X wave challenges the 2008 peak which is only *slightly* lower than the 2009 peak, I doubt it will beat the 2009 peak. Then there will be a long term triple top. Wow, very bearish.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnDprMUiqb5Vq1ff3Q-MBOZwjHYBFn_gNEaPbt0E8rY3XEZU34hM89Jrn6l3y4ZBNdX24CQMK3aZ2_DBuC5ODiBH7CaJUPfmIBh-fK0P4TeFHXftpnNFtf8Ep7VXdRf6d7PKgxAiWqjGDR/s320/0binve-001-IBM-long-term.png)