Elliott Wave Update ~ 23 February 2012 [Update 6:09PM]

Update 6:09PM: Update on the Gallup Presidential Approval Tracking charts I posted a few weeks back. It was predicted that approval would rise to the blue arrow on this chart.

And the result since shows that was the case. If this down channel is to be obeyed, we are about to see a huge reversal in the President's tracking poll data to the negative. And that would coincide with a top in stocks perhaps.

We'll see if the channel holds.

Update 5:40PM: MUB is cracking

ORIGINAL POST
Wilshire count:

INDU count:

Both are ending diagonal counts which implies exhaustion and a subsequent price reversal.