T/A ETF AND INDEX

[POKERSAM]

FYI There are two possibilities and one of them should be invalidated in the next couple of days. One is bullish and one is bearish.
Tne bearish count says the decline from 1687 to 1598 was a leading diagonal wave 1 and we are in 2. 3 down which could begin soon will be huge with a target in the area of 1500?.
The bullish count says the decline from 1687 to 1598 was a double three wave [iv] and we are in [v]up of an extending 5up going to a new high. The new high will be the top of y and near 1730?. (see chart in stickies)

IMO after looking at both of them for some time the bearish count holds an edge over the bullish count. This is even though I do not like big leading diagonals.
It can go either way though and it doesn't matter to me at all which is correct. They both appear viable and do not break any rules. I am flat. If the coming wave structure points to a new high I will buy calls and if it points to a big decline in wave 3 I will buy puts. I will know very soon which it is.
I have both labeled charts up in the Trading Pit with the LTS.
Good Luck to all