Until it's decisively wrecked (tomorrow), I'm sticking with the bearish count based on a micro-count of the last couple of days. At this point it depends on us rejecting hard off the 50% retrace at 1465 tomorrow. If we can manage that, the indexes can shed a lot of points in a hurry.
What I'm counting as a W1 has moved sideways quite a bit, setting up a potentially very steep downward channel. Wave 1 may have already eaten up the time of wave 2! For now, at least it's a legal micro-count.
|SPX (still-)Bearish count|
A quick summary of the Bollinger Bands we've been watching:
And here's a nasty male hobo spider I just caught outside. Welcome to Seattle. No, wait, it may be a giant house spider, Tegenaria duellica.
|Kill it with fire!|