Charts 07-16

It certainly looks like wave iii is over -- we broke out of its channel today.  That may be it for wave iv, but there is still plenty of room in the larger channel -- the one up from SPX 1560 -- to bounce around a bit.

Looking for this to finish up next week, with a touch of the top line of the rally channel from the March 2009 lows.

I'm also working on planning a good overnight hike in the North Cascades that won't kill my girls.

SPX 07-16