From the looks of the SPX futures, it is quite
apparent that my original count was actually correct. This count, from the
1560.33 low, has the first wave of a 5 Wave sequence completing at 1589.13. An
inverted corrective second wave then followed, completing at 1601.06. The third
wave of this sequence completed at 1626.61, and was followed by the fourth wave
which completed at 1604.57.
From the 1604.57 low, the SPX has thus far
completed the first wave of a sequence at 1613.23. Wave 2 was once again an
inverted corrective wave, and completed at 1614.82.
My target for the 5 Wave sequence from the 1560.33
low has been 1631, and, again, looking at the futures, it appears that target
may be met.
I continue to see this as the first wave of a 5
Wave sequence that will carry the market further, and with that in mind, it is
likely that the second wave of this sequence will be an inverted corrective
wave. That would most likely mean a shallow pullback, followed by a
continuation of this move to the upside.
Thank you.
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