Thursday, August 7, 2008

August 7, 2008; S&P 15 Minute Chart Possible Count

Attached is a possible count for the S&P on the 15 minute chart which has an A-B-C correction complete now, or will be complete at around the 1320 level, before giving way to the big wave 3 of (3) down. The reason I'm not extremely confident in this count is because of the structure of the B wave. It looks like an impulse wave. Wave B's are can't be impulse waves. But this still should be looked at as a possibility.

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