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
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEia1IjBw0hDAHewZxAp-oJucKXJELtmNjKOp6abErgcux3Qn6Mgql_dApBa7PAH_QazTzLUdAxOXMjadIbX4CNWauSnTvFTIAQyWd44aUxtZ6gnRM3C77aNfXxtamKMwkzDpr6WH1reTMam/s320/0binve-001-201.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTURRk2WfgkxrOJgOoBC6owlp05BXoQkAnTwjnJ_099xAj0HZ9XKoBl52AeYU1quH9NYEi7NAnQ9isXu0NT1FPZPqgPJcFyKTXLvmCK-2LVwI4gM5NVv3ChXBmcAEu4qOO3LIbdFh8Z6Tn/s320/0binve-001-202.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEit1YOzuKryyh4bijf01PXp_Pn6RlyEKVJM1oCkqd_R4lbYoWkoydT0KQiq-8FE0-OwzVhTUipR7PvCLZb8QUsKWdmXT2IDdRb5Bcxa6Cy_HgZhkw1Aj8ZX2buoC08l6xBEf-F9rmLAyEcI/s320/0binve-001-203.png)