Elliott Wave Update ~ 20 August

The up waves since the recent 978 low count well as a big Minute wave [i] move that could be completed sometime tomorrow. The subwave structure is actually pretty decent as I have labeled on the SPX.

The alternate possibility is that it is a [b] or [x] wave in some kind of flat move from the 1018 high that will ultimately form the Minor blue B wave. But that is the alternate count. I favor the Minute [i] count. Lets just get P2 over with already huh?

Actually my chart allows for an early bullish spurt peak followed by a very bearish retrace for a Minute wave [ii]. It seems almost too perfect for OPEX Friday.

Lets see how it plays out.