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Thursday, October 6, 2011

October 6th Update

S&P 500

We still haven't gotten the pullback that I've been waiting for, but this is how bear market rallies work.  I do think we'll get some selling tomorrow, but it's not the buyable dip I'm looking for, and I fully expect a rally into the close to complete a bullish week.
Nothing has changed since my last post, in terms of my strategy and expectations.  I still think we are in a minute degree ((a)) wave up, as I cannot see this pattern as anything other than a singular impulse wave with strong extensions.  We still need ((b)) down and finally ((c)) up. 

Posted by Waverunner (FractalTrader) at 11:39 PM

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Notation


Wave DegreeMotiveCorrective
Grand Supercycle((I)) ((II)) ((III)) ((IV)) ((V))((a)) ((b)) ((c))
Supercycle(I) (II) (III) (IV) (V)(a) (b) (c)
CycleI II III IV Va b c
Primary((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))
Intermediate(1) (2) (3) (4) (5)(A) (B) (C)
Minor1 2 3 4 5A B C
Minute((i)) ((ii)) ((iii)) ((iv)) ((v))((a)) ((b)) ((c))
Minuette(i) (ii) (iii) (iv) (v)(a) (b) (c)
Subminuettei ii iii iv va b c
Micro((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))