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If you've missed it, Daneric has put together a nice "chart" with his top 12 reasons why he thinks a P[3] count is very wrong. (For those not familiar with Elliott Wave, suffice it to say that the bulls had better beware.)
http://2.bp.blogspot.com/-GwCs-jDpWF0/TZPFFUKgVDI/AAAAAAAAI88/zpkhgH44qNo/s1600/DAIL.png
Nice, concise analysis (even if I'm not exactly sure whether #8 should even be there or not, but hey, you can't have it all).