Market Timing Update (6/10/10 Close)

[4PM Stocks] The rebound since yesterday's low is best counted as a double three corrective structure which ended with an ending diagonal. Odds continue to favor the overall bearish count (Chart 1).

There will be additional upside potential if this is part of an X wave up or part of 2-up, we won't know for sure at the moment if these particular counts are playing out.

Chart 2 and Chart 3 update the top bearish and bullish counts.