Variation one - a triangle for wave iv:
Today saw the rebound as expected in yesterday's post due to the extreme oversold TRIN readings. The market wasted no time in relieving the oversold. Primary count of wave v of (c) of [y] of 2 still works.
In the Wilshire 5000 (and SPX) wave iii was shorter than wave i, therefore wave v cannot go higher by rule than wave iii as wave iii can never be the shortest wave.
INDU count. Megaphonish looking.
TOP ALT COUNT:
Top alt count has today as merely an oversold wave ii bounce.
INTERMEDIATE TERM SENTIMENT MEASURES:
Via the excellent Sentiment Trader:
Latest Investor's Intelligence survey shows the Bull ratio is higher than anything registered in all of 2008, that last time a multi-month wave (2) occurred of this size.