Weekend update Jun07 08

One reader asked for a wave count. The only count that make sense or one scenario would be in the posted chart. This requires going back to Oct 07. The target of wave 3 if this is it will be OEX 700, SPX 1500 or Dow 13600. This is also Fib 786 retrace from last Oct 07. Right now it is finishing wave 2 of five waves. Take it with a grain of salt. The turning points are governed by channelling and it is up to you to do the Fib calculations. EW works when it works.

2c