Wednesday, 23 June 2010

17:42 BST - SPX Update

Here's a count (plus an alternative) for the bullish side (for example, this from last night), showing a double zig zag forming. We'd currently be in wave (B) of the second zig zag. But note the more bullish interpretation, of a complete single zig zag from 1131.23. There's not been anything too impulsive looking from the low yet, but that can change pretty quickly, so its something to watch for.

SPX 1 min chart: