August 8, 2012 - Postmarket

Well, today was boring.  Indices went nowhere.

Yes, I tried to count the squiggles, as there was very little new information out there.  The most important piece of information is that the VIX gap at 15.45 did in fact fill.

Boring nothingness at the current stage is strongly indicative of a wave 4.  The operative question is of what.  I expect it is Micro [4] of "c" of (y), but it may be more valid to call Minute [b] an A-B-C rather than a W-X-Y, in which case my "b" of (y) is actually "ii" of (c) and this apparent consolidation is in fact "iv" of (c).

If we gap down tomorrow and rally, this would support the timing model for the high being set tomorrow, likely at around 1411.  We may have already set the high, though - we have hit the target.  Though that would require this apparent consolidation to be something else entirely.

Overall I have us having closed today in Subminiscule [v] of C of (B) of [4] of "c" of (y) of [b] of B of (Y) of Primary [D].  But I could be wrong.