STOXX 50- Elliott wave update

The structure reliability for downside impulse is very high. As you see I've labeled the move since 1/11/2010 as wave (1) (preferred count). Of course there is alternative count, which suggests the current correction as wave II of (3) to be underway, back testing the red neckline and down again.

The bigger time frame(daily) suggests couple of scenarios as well. My preferred count suggests P2 END and P3 underway. However, my expectations are for at least one more move lower. The ALT one(A)(B)(C) and new high is possible too. My doubt it based on the bigger H&S pattern since 09/03/2010, whose target is not met yet.

So, I suggest tiny  long and stop at 2,593. Exit- around 2,820.The target is good. If I am wrong, the loss will be tiny.

Good luck!

Update 2:00(GMT+2)

Individual investor's choice for next few months. Information from last week.

Sentiment Survey Results1/27 to 2/3

Bullish	29.2% down 5.8
Neutral	27.7% down 0.6
Bearish	43.1% up 6.4

Update DJIA -daily-candlesticks 12;00pm(GMT+2)

Just sharing an idea.