[Update 7:45PM: I generally like this count below. Its not a picture perfect wave structure, but the market seems tiring so its to be expected. But I am going with this for now. Not really changing a whole lot from what I have been showing, just tweaking as we go along. Thats what we are supposed to do.
Probably no one has this count as I have laid out and thats why I like it too. We'll see. It could fall apart tomorrow I would be just fine with that. But the waves don't yet suggest (5 wave impulse down) that is happening just yet.
The banks have had to "stabilize" the past numerous sessions to allow the SPX to remain this elevated.
I use the Wilshire for form here. The form looks pretty decent.
Love him or hate him, Bill Pimpco might just read my blog....http://www.marketwatch.com/story/qe2-a-ponzi-scheme-says-pimcos-gross-2010-10-27?dist=afterbell