Today's Early SPX (S & P 500) Strength Is Wave B Of Wave 2 Down (Update)

Update: Today 7-29's strength is Wave B of the short term Wave 2 downcycle since 7-23, not Wave B of Wave C of Wave 2. This makes sense, because Friday's very anemic bounce would have been an extremely anemic Wave B type move of the Wave 2 down, see the 5 day intraday candlestick chart at http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=, and, see the daily candlestick chart at http://stockcharts.com/charts/gallery.html?%24spx.

Neither the intraday or the daily candlestick charts look like SPX's short term Wave 2 downcycle since 7-23 has bottomed. The candle on both the daily and the intraday chart yesterday would be unusual for an important cycle low. SPX's daily chart has a black candle with no inverse spike yesterday 7-28, let alone the usual large bullish inverse spike that normally/often occurs at important cycle lows.

Also, today's early action is spiking/peaking parabolic/vertical type action that looks like countertrend Wave B type action, see http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c, so, I'm looking to ultra short RUT (Russell 2000) via TWM.

.......http://www.JoeFRocks.com/