Elliott Wave Update ~ 15 February 2012 [Update 5PM]

Update 5PM: Wilshire 10 minute count. Made a higher high today.

ORIGINAL POST
The premarket high did not hold.  From the early morning high, there appears to be a pretty decent 5 wave pattern down after a 5 wave pattern to the pre-market high.

I have been charting a small 5 wave move since the 1300 low. Sometimes its easier to break the waves down in segments if the larger pattern is not the clearest. Since the 1300 low was a nice spot to mark wave iv of (c), it made sense to do it this way and count from there.

Well this small segment since the 1300 low has about reached its limit for usefulness. It still works nicely as labeled here.

Fib 13 days, Fib 55 points in height.

And the proposed move since the 1202 SPX low. All in all its a pretty lumpy looking rally.