For some reason, I am getting the same questions over and over about if I have changed to the green count. And, if you read the weekend update VERY carefully, you would know that I need to see a MINIMUM target of the 1.618 extension struck, which is the 4100SPX region, to consider that we are hitting a 5th wave in a diagonal - ie. the green count.,
I also added this analysis today:
"I know we are at a precarious spot. But, please give this just a bit of room before you completely dismiss a bullish outcome.
As I outlined last night regarding a 5th wave down, that is still how I am primarily counting this. And, it is a VERY reasonable perspective as long as we are over 4130-4145. You see, it is rare that you see a 5th wave exceed .618 the size of waves 1-3. That id the 4130SPX region. Should that occur, then it would start turning more likely that we are seeing an a-b-c down in the wave v of wave 1 in green . . and the target for that is still 4050-4100SPX. But, as long as we can still maintain a bullish potential, I intend to do so . . FOR NOW. But, I am reiterating and explaining my outer limits to you now."
IF the market continues down to the 4100SPX region, then I will likely be forced to move into the green count. But, for all the reasons I have cited over this last week, as well as the current relative strength we are seeing in the IWM, I am going to try to retain the blue count until proven otherwise.
Remember, you are free to disagree with me and do as you please. But, for now, I am seeing too much evidence for the blue count to toss it aside just yet.