The Ending Diagonal does not appear to be complete. Micro Wave c of Sub-minute Wave (v) must push higher. The target listed this morning still appears to be reasonable, given the circumstances. If so, this will be the top of Wave (5). I will change it as I see the progress of this (final) rally.

VIX appears to have a better probability of being finished than SPX. However, we must wait the final outcome in the morning. It is possible to have an extended Wave (v) of [[c] in VIX as well.

TNX may be in the same boat as SPX and VIX. Sub-minute Wave (c) of [ii] is shorter than usual. It may need to extend to or beyond Wave (a) at 24.03.

This is a very touchy position (in all of the indexes) with a hair trigger if anything goes wrong. It appears that Greece may be granted a temporary reprieve. But we are only being told what the ECB wants us to know.

Unfortunately I am being called to a meeting in Florida that may last until Thursday. I may miss sending out the Mid-Week Report on Wednesday or possible delay it until Thursday, due to prior commitments. I’ll have my laptop with me to make comments as I am able.

Regards,

Tony

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