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On that ES chart I put the Alt count in blue as a wave 4 at todays high... This is that wave 4 (iv) count on the SPX 60min to give a bigger view of the possable pattern... This count has more of the "right look" about it...? :)

We got the turn just we were "one degree out" on the wave pattern of either an LD or a triangle pattern... 15min ES

hmm maybe not....

ES 15min ?

The Bear option .....Have to watch out for this possablity LD A or 1

No change in rates..... off into the 3rd..?

Uber Bulls will be looking towards an extended (C) wave.... 15min SPX :)

On USO this count would catch a lot of traders out... Daily USO...

If $BKX is in a lesser 4th wave that would also help give some support..??

OIH looks like its now in its 4th wave of the ED...so its getting slowly closer to a top...

If it carn't clear that 123.6% ext (1330.75 area), it sets up a possable running flat (B) wave.....if it can clear it then the 1:1 is still on.... 15min ES :)

1:1 comes in around 1335-6 depending on being measured from the top of the impluse or the lesser b wave... 5min ES :)

120min Globex chart... ( ignore the 1302 typo Just in case its wants to morph into a larger a-b-c going into that 1309 area....got both options cover then... with this being the alt count...

Wiesman, brought up a point about the 61.8% on another thread, this might help..? When measuring retracements with Exp flat patterns you always measure from the top of the proceding impluse wave...in this case the top of the (A) The 61.8% came in around 1313.5, the market went 2 ticks...

60min SPX :)

Good stuff Mu...:) So the Alt count of the a-b-c came in ...1313 area is the 61.8%... 5min ES

Just done its -4.75 1:1.... This is the earlist point the (B) wave can come in, for a move of into the (C).. Alt count is the 1:1 is a lesser "a" wave, of a larger a-b-c pattern where the higher (B) comes in at the c wave point

Quick look on the ES 5min... (A) wave ?? now in the (B)

Thanks Mike I'll take a look at XLF... As for BKX its at its 2002 low support area.... Weekly BKX..

I'd like to see at least a run on the 38.2% (1356) over the next week or so as it would confirm the delta order....:) 60min SPX