2pm update - one wave only

Market has seen a secondary minor wave of weakness, and has taken out the morning low. Similarly, VIX is on the edge of a breakout. How we close today will be vital. Can the bulls get their usual latter day recovery wave? Precious metals holding gains...Oil trying to re-stabilise.


sp'60min

vix'60min

Summary

I'm still going to hold to the original count, unless we take out the recent 1538 low. Some bulls have suggested a move to the 1520s before the next wave higher, but if that's the case, it makes a real mess of the current count.
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Best guess remains..one wave up..only.




back at 3pm

UPDATE 2.18pm...looks like the bull maniacs are trying to put in a spike floor...even USO has flipped back upward.

 
Holding to original count..still seeking those sp'1570s.