July 24, 2012 Postmarket

The count seems clearer today.  The main downside to an imminent upturn is that AAPL disappointed after hours, evidently by not beating its previous quarter's numbers by as much as analysts expected.  It's down $30/share (5%) in post-market trading.

Still, it's early going in the futures, and we'll have to wait until tomorrow to see how the market's going to open.

The 61.8% retracement is 1360.62 - if we make it that far.  This matches with the trendline down from the top sometime Thursday morning.  The 38.2% is 1348.55, which isn't that far away from the previous fourth wave. 

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