Elliott Wave Update ~ 8 July 2011

Minute [iv] of Minor 5 of Intermediate (C) is the primary count. Minute [iv] can take the form of a triangle, flat, zigzag or combination. There is not yet enough information to determine which form.  Today may have been an (a) of [iv] low or only an a of (a) of [iv].   Only time will tell. Ideally though, the market would remain above 1330 or close to it (the previous subwave (iv) low).

NYAD: And yes, I am proposing NYAD tops along with P[2].  Blaze of glory.