I have it labeled here as a double zigzag corrective Minor 2 up. That is my bear count. You can certainly re-label it likely as a 5-3-5 single zigzag up.
I like the examples of both the July low turn and the August low turn. That pattern reminds me of where the dollar is now http://3.bp.blogspot.com/_TwUS3GyHKsQ/TLdt8wwzbSI/AAAAAAAAHyw/ddKVpOFUphg/s1600/dolalr.png
[Update 6PM: The e-minis, all-hours, shows a possible up pattern with a triangle in the works.]
But so far, today's close was a Fibonacci 1.60 times the length of wave [i] so perhaps we are looking at the near the end of a wave [iii] versus [v].
I think the count works better as an (a)(b)(c) zigzag which would be the [y] wave of a double zigzag. It always works nicely in the channel. First half of the zizgag was in the upper half of the channel. The last half is located in the lower side of the channel.
A bullish triangle might count like this:
Here is the April 2010 fractal Just something to keep in mind.
The other option is that the market has seen its high for now http://1.bp.blogspot.com/_TwUS3GyHKsQ/TLYWkk3hRxI/AAAAAAAAHxs/wntw8MB1tTM/s1600/wlsh60.png
VIX looks likes its impulsing up again
Our updated NYAD count. Blue 3 of (5) is now longer than Blue 1 which is preferable. I wonder if blue 4 down is coming to the lower trendline.