According to my risk summation system, the risk window for this coming week stretches from about noon on Tuesday May 9th to until about noon on Thursday May 11th. A bit wide, but it is what it is.
Last week the Monday the 1st risk window tagged a nice high and the Wednesday to Thursday morning risk window caught a "C" wave smash and a nice low. All in all a good week for the system.
My primary EWave count in the first plot below assumes that the recent correction into Thursday morning finished a "b" of a "B" wave with the "c" wave up to finish the "B" wave now underway. If the red line in the sand below is broken, the primary count is toast.
Primary:
My alternate count in the plot below assumes that the "B" wave finished this past Monday and that the "C" wave smash sell off is underway. The "c" of the "B" in this count looks a bit puny, that's why it's the alternate count, but I'm going to let price make the call. If the green line is broken, this alternate count is probably toast. Here I sit stuck in the middle waiting on a sign as to whether I'm a bear or a bull. Given a three of some degree should be underway, I shouldn't have long to roost on this fence.
Alternate:
Regards,
Douglas
