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It seemed to me that Mr Market was wasting time in a wave4, so I took one eye off the markets to work on another project.... :D A quick look.... the SPX seems like it may want to go one more leg down to about 813~810 before resuming its uptrend.... :) Below 805 and it's bear territory.... :)

The amount of overlaps since March 6th makes it very difficult to count. However way I see it, March 25-30 still looks like a flat to me, so I'm labelling it as a (B). Naturally, this leaves us in either wave (C) or wave 3 up :) The next few days would be very interesting.... :) If SPX...

The INDU, SPX and NDX seems to be all struggling to hold their gains.... last leg up to 850? :D

55 points..... Slurp.... yummy..... you are making this bear drool..... :D

SPX 120min

Hmmm... after such a stretch of long run upwards, an ED finish would be nice for dessert..... :D

Good call Mu! The market got us fooled except you! :) Well.... my winning streak got stopped out.... :D Here's a re-count in the bullish camp :) SPX 60min Edit: Just saw the label error... should be ABC instead of ACC... need to re-learn my alphabets..... :D :D :D

Looks like they just want to get to that 1:1 of 813.99 in the SPX... :) http://www.elitetrader.com/vb/attachment.php?s=&postid=2371890

Thanks Mup! I was just riding on Eric's good read this week. Been riding the market down yesterday.... then up this morning, and then down again.... :) Just hope Mr Market does not throw another curveball wave count after that last double zigzag.... :D

SPX seems to be going for that 61.8% retracement :)

Since the March 6th runup, I would prefer to see some retracement before it continues its uptrend. So I am seeing a complex "B" wave in progress before a "C" down. SPX 60min Eric, nice to see you're on a roll! Keep posting! :) Note: Still so difficult to post in ET....

Whether yesterday's drop was a "A" wave down or wave 1 down, it is common to retrace 50% to about 61.8% before resuming its downtrend. Hi Ralph! Welcome! I'm not a big fan of SuperCycle or long-term counts so I wouldn't be able to chip in.... :) SPX 30min Sigh.... usual difficulty...

Not really sure whether the SPX has completed a ABC down or a 1-2-3 down. So it is best left for the "traffic lights" to do their work.... :) Above 793.84 and the odds of a continued upward move increases... :) SPX 30min Edit: Problem posting on ET again....

Doesn't feel like a drop after a completed ED at all..... One more leg... :D

Yes we did hit that :) Somehow I just feel that the last leg seems incomplete.... but you could be right that the downmove has already started. If SPX cracks below or near 800, then I think we all know the answer..... :) What do you feel about the volume today?

Seems like there is still a final leg up to around the 1:1 @ 857.67. Not sure if irene wants to bid goodnite today.... or stay up still tomorrow... :D SPX 90min :) Edit: Mu, agree with you on the buy signal.... you spotted it early! Although I will not be holding them for long :D

I thought leading diagonals only occur in wave 1 or wave A.... :confused:

I used to play with them and called them "lottery tickets" :D

The overnight retracement in the ES is too strong to be a "b" wave. (Thought I better save the charts before it goes down again..... :() Here's another view..... (similar to Mup's, but again, we can't seem to get in sync with the ED labels... :D ...we'll just let Mr Market sort himself...

Here's a view of the SPX 5th wave in 10min... SPX 10min Edit: A gap down following the claims report tomorrow morning?