Here is scenario #1 my preferred count because the timeframe to form wave #2 is now equal to the timeframe of the wave I have labeled 4 and this weeks rally has stalled at the 38.2 retracement of the Oct. 11 decline.
Scenario # 2 assumes 5 waves down were completed this past Friday and the market should continue to rally over the next week.
..... i agree that 5 waves down were completed... ... but i dont assume that we must continue to rally...... very possible though
Status: Caught on the wrong side of the Market holding short position. Scenario 1. Intermediate Wave V1]5) has begun with a bang of 600,65,135 points. Subminuette Wave V1]5)1.1:1i,ii,iii,iv completed. Futures point to a higher open in Subminuette Wave V1]5)1.1v fading all technical resistance. Strategy 1. Close short position. Open long position.
Scenario 2. Minuette Wave 4)c.4:c is ending. There may be Subminuette Wave 4)c.4:cv as futures suggest. Strategy 2. Close short position. Find another entry point for short position.
Scenario 3. Minuette Wave 4)c.4 has ended and Minuette 4)c.5 has begun. Subminuette Wave i and ii has unfolded. The Market falls a Subminuette Wave iii which is unlikely because of a bullish futures. Stragtegy 3. Hold short position.
Oil down = Abu Dhabi sells oil to buy Citi. Gold down = Sold to buy stocks. Treasurys down = Funds left treasurys for stocks. Yen down = Yen-carry trades rewinding. Rates down = Reverse all of the above.
If Subminuette v = Subminuette i it will be 266, 22, 46 points long and end near 13504, 1483, 2695. Prepare to open short position when there is a lower low near target.