Gumbo was asking how to reconcile the Russell count (http://marketthoughtsandanalysis.blogspot.com/2009/12/this-is-why-columbia-rocks.html#comment-25741547) and the ending diagonal that I showed in my last post: This is Why Columbia Rocks
Here is my take on that scenario (using the Russell Futures). I think a Minor 2 on the Russell fits very nicely with a Minor C Ending Diagonal for Intermediate Y of P2 for the broader markets.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjD0SrXeg_ZRfV57uA-Xw8AHEkZEihClcNh9UUFZvQ8FvWeivgg21EV1QM41XFA6IZMoHBeeea96iOoA0HX1zfjxQOh7ux9Hk6aakb4m_9iLgkHT4EKPIJJU9OQ1goA-8_42n_8QWZ9CV9/s320/ScreenShot008.png)
A Word on counts vs. attitude
Here is a comment I left on Columbia's weekend post:
Col said: On paper, I am very short-term bullish, but in real life I am bearish, to me what little upside there maybe available, it is not worth the risk of a major sell-off happening at any time, with-out warning.
binve replied: EXACTLY! I love how in the CIL we have both been labeled as "bullish" ... LOL!!! Just because we acknowledge that the count makes a higher high does not make us bullish. I don't think we could find two bigger bears than us :). And in a way, I am *happy* to get one last move up. Not to be long, but to get a better deal on shorts :)