An alternate bullish count has us putting in a series of wave 1 - wave 2 sequences of progressively smaller degree since the August lows:
I lean towards the first count rather than the alternate, there are divergences showing up on many indicators and it would reasonable to expect some corrective activity after three solid weeks of up market. If the alternate count is correct, than we should see a very powerful 3rd of a 3rd of a 3rd rally commence by the end of the week.
Still catching up from my absence of last week so haven't had time to develop a bear alternate, hope to look at that tomorrow.
Speaking of divergences, the clearly divergent Buy/Sell Vindicator of last week obviously was not telling us anything at that time. The Buy line still continues to diverge from the high readings of earlier this month.
The Trendline/Oscillator system is still in bull mode, watch for a break of the up trend line accompanied by a reading below 80 on the Oscillator to confirm a change to a bear trend.
