Link to original 5count Wave post
Link to base chart
Considering the current poor status of the SPYsight EOD charts I think it prudent to consider a 5count Wave may be on the table.
I'm short the market via FAZ & EDZ, but still remain about half cash.
If SPY does fail at count 4 I'll add some more, however, the ISM & NFP estimates going into JUL do look favorable.
I could have argued this point at the early MAY spike, but there was also some decent econ news coming up, so I didn't. But now the $NYMO, $NYSI, $BPSPX & $SPXA50 have all gone sour, so... now is different.
