Sorry, MC. I shoulda been more clear.
Possible 3 downs are different depending on the count, obviously. And some of the 3s could be 3 of 5s. For instance...
stockcharts.com[w,a]ehclyyay[d20][pf][vc60][ilb5!lb14!lh5,5!li10,10!lp14,3,3!la12,26,9!ll14][J19889830,Y]&pref=G
The NDX if you count from the price high would now be in its 5 down. That would make the Monday low the end of 3, and we did an ABC corrective 4 (or yesterday's morning low was the end of a down and we did a fast 4 up).
On the S+P, the bearish count is that the move off the high has now done a 1 and a 2 (or an A and a B) and is now starting a 3 or C down.
stockcharts.com[w,a]ehclyyay[d20][pf][vc60][ilb5!lb14!lh5,5!li10,10!lp14,3,3!la12,26,9!ll14][J19889830,Y]&pref=G
Also, as Shack has noted with BRCM, one could count this as the start of iii of 3 down on the S+P/OEX/Dow etc.
I don't know what's what, exactly, but I don't expect the quad bottom at 1880 Naz to hold tomorrow. Maybe we just do 1865/S+P 1025 and bounce. Lower targets are 1018 (or Shack's 990!) and Naz 1840is. Or the 100 dma at 1820ish.
Now as for the 50 bucks, I'll just take dinner when we get together <g>
the freep |
