What makes sense to me, based on the divergences we are seeing on the 15, 30 and now 60 minute charts, is that we will see a bottom soon. The McClellan is showing divergence as well: Span.
But the damned Russell keeps throwing in a monkey wrench!
... Unless its Minor 2 top is out of phase with the other indices. Blankfiend put together and excellent Russell examination (Russell 2000) and it got me to thinking about this wave.
I now have a count that:
1) Jives with the divergences noted above
2) Allows for a pre and post Labor Day rally (I think this is *extremely* likely)
3) That I like / find believable


