But this fine (but unfortunately busy :( ) Saturday morning I am reviewing the larger count structure. I had proposed this count last month: Update on My P2 Projection. I was drifting away from it since this "wave from hell" took us nearly to the 62% retrace, I really thought that this could be the top of P2 (and like I mention above it could)
... But it also could not. Lots of "Sell in May and go away" talk seems to coincide with the wave ending, so this is a compelling spot for a top. but it just seems too obvious now. Too many people are expecting it, so my Spider-sense is unfortunately tingling (that, or I need to switch to Selsun Blue)
So what am I getting at? Another 3 months of sideways churning before the real top.
First chart -- Here is my big picture projection that I showed last month and the month before, updated with the recent price action, so that you understand where I am coming from.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhb_HDzupO8Dixicz66yCyq4PDQxPrX0h-k4gpdegEe_1YmmUpO04ZfkKFyALNi_amsRv7kCoqQJc0WDxu94dZV3Wr-h5it5SMw00uZa4ru6LIrWUyPF-ZijDrXsXGeE3lXsnRf9jgn_7Vn/s320/binve-3.png)
Next is my P2 focus count. Please read the notes on the chart, they are very important. Namely, that when I honestly assess the wave, there has not been enough variation within it to qualify as 3 Minor waves. I think it was 3 Minute waves within 1 Minor wave.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlQeqG5Uk9ObtL-uFn4wFnDYsTJ1Ke8lk8aYxyq5HIwku7EQuRbCJkTZokc9PbcYirBze8f9Xkwwn2K1GMUtTXGKD9oTD49bufejvE7Yms4Oj7_srQ2DVk3BCdDUYmOXhvfciE1etVu5xF/s320/binve-2.png)
Third Chart - This is my *highly speculative* projection as to how these next 3 months could play out. I am not looking for criticism on this count, just showing a possible way how this trainwreck could move sideways still within the context of P2. How will it actually unfold? Who the f*** knows.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2TOFqRqsVHYUbePk0_i2IpERkSx-4pl9meLOlTS94hYlpYz9zOlT_91RPLT9lMbCWzDYCPsZRNm_e_mhMVoUIzgv2N6ShWYn-Y_Ry67F06bt3MkCiDfyjdzjX2veqmIBkEwaO-AitsD2p/s320/binve-1.png)
Just offering this up as food for thought.