8 Aug 2014

I have revised my EW count to an expanded flat pattern, with a series of 3 wave structure and a impulsive C-wave move upwards.  There is also another count that explains the single 5 wave up pattern and its a bearish one that could potentially stop the rally and turn down as early as Monday.

MT: DOWN
ST: DOWN
PA: DOWN

Out of the 2 counts presented I believe the last one to be more accurate of a count than most.  But time will tell if this is correct as there are many possible combinations that keep popping up as prices patterns progress onward.

The next leg lower should be swift and impulsive for both counts so watch out for possible accelerations.

Much Bearish Alternative: