A-B-C Rebound

CAN you see what I see in the graph above ?
3 wave rebound off the low at 780.21 - counting as wave 1 DOWN

"A" wave high to 810 at 3pm yesterday
"B" wave low to 784.44 at 9:45 this am
"C" wave High this afternoon, so far at 2:15 @ 812.43

Given the above scenario, then NEXT is wave 3 which will be Down with no prisoners

this "C" wave high only exceeded the "A" wave high by a narrow margin
which could be labeled as a FLAT which actually is a very weak formation
even tho it doesn't look that way right now.

PC ratios were some what bearish yesterday

Propensity index is trending LOWER and the price levels
seen in stock prices should respond accordingly

activity index at this juncture is EXACTLY like yesterday -
FLAT at lowest possible levels .66

Power index may have offered a confusing picture because
it shows this action occurring tomrrow
if you remember I expected a wipsaw tomrrow which NOW looks iffy at best.

The next important low should be at the open on Friday
156 bars hits at open on Friday ,just like 258 bars hit today
with the rest of that day on the rebound, just like today,
and might even continue UP into Monday's open


More later
Jay