The market is it's own master. As an analyst it is a good trait to give up quickly on a count when the evidence is staring you in the face. I thought we were getting smaller degree first and second waves for a down run but now it is apparent that the formation that began 4/5/10 at 8am is a triangle. You can see it very clearly on a 60 min chart. I am posting a 5hr chart to give a little more perspective. I think the triangle is completing a 2nd X wave for the entire pattern that began on March 1st. We should have another 5/3/5 wave count in the long direction that will most likely complete the pattern. This could take many days to play out.
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