Let's play the where's the top game again. See Chart to the right.[purle, Oct 12] correction could be over on Oct 18 in the form of an expanded flat, OR in the next few days in the form of an expanding triangle B-wave at a lower low as marked. If the correction is over under this count, today's pullback is wave 2 of the next leg up.
[red, Oct 14] correction in progress in the form of a triangle, running flat (no lower low), regular flat (lower low) or complex three (lower low most likely).
[blue, Oct 18] This one is the most bearish count. Yesterday's high is wave A or 1 of the low or it could be the end of C of the expanded flat wave (B) /(X) / (2) rebound. The decline has just started. Deep/deeper or total retrace probable.
[235pm] SPX squiggles -
Near term tracking counts and squiggle counts. SPX is at the blue trend line at the moment. The Oct 18 low is key to near term trend.
[1140am] DAX, SPX update -
SPX - potential triangle (green) if it does not break down.
[820am] ES, DAX update -
ES - 5th or 1st of the next swing up.
DAX - expanded flat or small-degree rebound over.
