I had said that any alternative upward counts would be dependent on price being above the 2,900 level. Being true to my word, with the futures up strongly on bank earnings this morning, and over the 2,900 level, this is the best alternative I can find that still honors the wave 0 - 2 guideline. It is still a corrective count, and likely still to the minor B wave of a flat.
|DJIA - 4 HR - Alternative Corrective Count|
This count is based on the DJIA cash, but a similar (but not exactly the same) count works in the cash S&P500 and the futures, as well. The "running triangle" with it's higher (b) wave portended bullish implications, and a diagonal count would no longer fit well, immediately after it's cousin, the triangle.
Note in this count that wave minute ((x)) is longer in time than wave minute ((w)), so that seems to fit the corrective nature of the wave, as well. Further, this makes minute wave ((x)) of 'higher degree" than either of the second, ii, or (b) waves preceding it.
Have a good start to the day.