My count from yesterday looked like a good one: Whew!!! So Much For That Theory. And with the higher high this morning on very strong breadth, I think that confirms we are at the beginning of 3 of Minor C. And per my larger wavecount (which I will show in my next post), Minor C is the last wave up in P2.
Interesting note: The dollar is up pretty substantially this morning. Yet the market is behaving like it was a drop. Things are getting disjointed. Breadth is becoming even more fervent in both directions (as I was first observing here Recipe for Disaster). Throw in this Dollar reaction and divergence, the INDU/RUT risk spread (Another View of Risk) and near all time high sentiment readings after a pullback the last couple of weeks, then we have a pretty good case for being very close to a top.
