Monday, 28 June 2010

17:59 BST - SPX Update

The possible triangle I pointed out in my last post, which would be a 4th wave applicable to the counts shown in Options 1, 3 and 4, is also relevant to the more bullish counts, Options 2 (if wave [ii] hasn't already topped at 1131.23) and 5, where it would be a (B) or [B] wave in a second zig zag. Here it is on the Option 2 chart:

SPX 1 min chart:

The invalidation point for the triangle is, again, 1083.56.