[1015PM] Update on SPX mini after the announcement of the European Bailout Fund -
The labels on the squiggle count (right chart) are associated with
[red] An (a)-(b)-(c) fourth wave [iv] of 1-down of P3
[green] 1-down of P3 was complete on Friday with a truncated fifth wave. 2-up is in progress, and could be a upward or expanded flat. It looks like that [a] of 2 may be done.
[blue] The last leg of P2 in the form of 7 small degree waves up to a new recovery high is in progress.
Please see discussions in the weekend update A Primary Degree Top (5/7/10) for details.