Tuesday, 15 June 2010

19:15 BST - SPX Update

Although it looks nasty, the move up today does seem to count as a 5:

1 min chart:

As labelled, it has now to stay below 1111.38 on this 5th wave to be valid, though the labels may be subject to adjustment once its all complete.

Assuming it stands, the question is, is it a C wave to end a move or a 1st wave in a new impulse. I think we have to see what the rest of the day brings.