I still believe -primarily based on the daily cycles, we are headed UP. Primary target remains 1395/1405...probably no later than next Wednesday.
SP'60min
The blue count is just one of many valid ideas out there. If we are getting one final 'large wave'5' UP, then such a wave would perhaps be comprised of 5, 3, 5, something like that.
See the following chart, for a reminder on what a bullish weekly outlook might be.
IWM, weekly - bullish count
Anyway, as noted, I am Long. No risk...no gain.
*There is still a slight possibility we close positive today, but the depth of the morning pull back was more than I had thought.
More later...probably after the close.